Subprime lending under a new name targeting veterans?

Eric Kandell is making his pitch to veterans. Wearing a red T-shirt, with the words “Low VA Rates” emblazoned across his chest, he looks fit and muscular, as if he had stepped off an Army base himself. In this YouTube video and others, he tells current and former service members how they can take tens of thousands of dollars in cash out of their homes. They can pay off credit cards, remodel a kitchen, install a swimming pool, or travel to Las Vegas. “Do whatever you want,” he tells them. “Imagine your home is like an ATM.”

Kandell is targeting borrowers from the U.S. Department of Veterans Affairs mortgage program. He’s the 43-year-old president of a company whose very name is a come-on: Low VA Rates LLC. It’s among the lesser-known financial outfits dominating the business of selling cash-out VA mortgage refinancing, which totaled $41 billion worth of new loans over the past year.

Read on.

One response to “Subprime lending under a new name targeting veterans?

  1. Reblogged this on Deadly Clear and commented:
    Congress needs to get their collective head out of their a**, stop resistance BS, and start making some laws to protect our citizens and military from the corruption they have allowed for over 2 decades. Get on it, or GET OUT!

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