No it is a predatory situation.
Recent Ginnie Mae data have shown a thousand percent (1000%) uptick in home equity loans by service members and veterans.
Ginnie Mae is furious at mortgage brokers that are pushing their predatory loans on these members.
A historical solution is to house military families on-base so they can save money and where they won’t be distressed so much they need to take out these predatory loans. They should know better but it’s easier said than done. It causes service members to leave the service because they can’t make ends meet without going into a lot of debt. And the predatory loan sharks are so deceptive, they make the service members believe it’s the right thing to do to get further and further into debt.
Wow. You have a pretty low opinion of the mental capacity of our fighting men and women. Are you John Kerry?