This is the ninth session in our 12-month Money Smart financial literacy series at the Big Island Library presented by Woodforest Bank*. This month’s topic is called Loan To Own. By the end of this course, participants will understand the characteristics of consumer installment loans. To achieve this objective, the participants will be able to:
- Identify various types of installment loans.
- Identify the factors lenders use to make home loan decisions.
- Explain federal laws that protect them when applying for a loan.
- Identify the questions to ask when purchasing a car.
- Explain why installment loans cost less than rent-to-own services.
- Explain why it is important to be wary of rent-to-own, payday loan, and refund anticipation services.
- Explain how to guard against predatory lending practices.
*You do not have to have an account with Woodforest Bank to attend these financial literacy seminars they are open to all adults. Attend any sessions you want. For more information contact us at 540-425-7000.