Since the $700 billion bailout package was signed into law last week, much talk is aimed at figuring what caused this emergency measure to have to be taken. During the Vice President debate, predatory lending practices were blamed. I could not agree more, since I saw first hand what this looked like.
In 2003, I needed to go back to work to help put my daughter through college. Since I had been a stay at home mom for 12 years, this was a big adventure for me to endure. As I scanned the want ads, I thought I found the job of a lifetime. The ad read: Make $100,000 – No experience needed. The ad was for a local mortgage broker.
I was familiar with this company since it advertised a lot on Christian Radio. I was excited as I made the call the following day. I was granted an interview immediately, which was then followed up with a skills test, which they said I passed with flying colors. (I should have known right then they knew how to lie).
When I started my new job as a loan officer at this mortgage broker, I was excited to think that I would actually be helping people become homeowners. My first loan came easy, but things immediately started to be disclosed to me. I was told my job as a loan officer was to charge the customer as much as I could get away with, while still able to acquire the loan for my client. In other words, they were asking me to RIP OFF PEOPLE.
I quit after 2 short months and told the broker that I could not do it anymore. He said, “Pat, I think you are just too nice of a person”. As I left his office I thought, “This is not about “being too nice”, instead it is about “having a conscience”. God gave them over to a depraved mind, to do what ought not to be done. They have become filled with every wickedness, evil, greed and depravity. Romans 1:28-29
I struggled for many months afterwards knowing that such predatory lending was going on, and nobody was doing anything about it. Finally, God gave me peace on November 28,2003. That morning during my quiet time, God lead me to a book in the Old Testament called Habakkuk.
Then the Lord replied:
Write down the revelation and make it plain on tablets so that a herald may run with it.
For the revelation awaits an appointed time; it speaks of the end and will not prove false.
Though it lingers, wait for it; it will certainly come and will not delay. Habakkuk 2:2-3
I wrote in my Bible right next to these verses the following: 11/28/03 – God revealed to me that the corrupt mortgage industry will be revealed in the newspapers someday.
As I continued to read in Habakkuk, it describes greedy men who are never satisfied and who pile up stolen goods and make themselves wealthy by extortion. Will not your debtors suddenly arise? Will they not wake up and make you tremble? Then you will become their victim. Habakkuk 2:7
The mortgage company that I was employed by, along with many others, have been forced to close their doors. The words in Habakkuk had finally come true. Many of these brokers just like Humpty Dumpty once sat high upon a wall…only now to experience a great big fall.
And all the King's horses and all the King’s men could not put humpty together again.
Do not be deceived: God cannot be mocked.
A man reaps what he sows.
Founder and Director of Key Ministries located in Lexington South Carolina. You can reach us at keyministries@yahoo.com. .