Foreclosure Scams To Be Aware Of
Homeowners facing foreclosure should be aware of unscrupulous
lenders and scammers. Don't get me wrong, most lenders and
agencies are reputable and legit. However some lenders, commonly
second mortgage issuers will use unethical practices that
increase the risk of nonpayment by the borrower. These tactics
may include lending a large amount in hopes that the borrower
will not be able to keep up with the payments, charging
outrageous interest, points or fees. They may also repeatedly
refinance the loan without any real beneficial reason to the
borrower. Homeowners facing foreclosure are often targets of
these scammers because they are seeking any solution possible at
One of the most common tricks is an "equity skim". What is
equity skimming? This is when a buyer approaches you and offers
to get you out of foreclosure buy paying off the mortgage or
offering money when the property is sold. They will often suggest
you move out quickly and sign the deed over to them. They will
then collect rent from the property and fail to make payments on
the mortgage. The lender will continue the foreclosure process
and foreclose. Signing over the deed does not mean you are no
longer obligated to make mortgage payments.
Another trick scammer's use is to set up a "counseling"
agency. They may contact you offering to do certain services for
a given fee. Often times these are thing you can do yourself for
free. It is important to note that most services are legitimate
and will provide lots of great help.
So what do you do if you suspect you are being duped? The most
important things is don't sign any documents unless you fully
understand what you are signing. If the party you are dealing
with makes any sort of promises make sure they are in writing. If
you arrange a contract of sale loan assumption make sure you know
weather or not you are released from liability of the debt.
Consult with your attorney before agreeing to any deal that
involved your home. Should you decide to sell your home to stop
foreclosure, have a look at any possible complaints pertaing to
the prospective buyer.
Mark Lambie is the owner of Stop Home Foreclosure a
website for helping people facing foreclosure.
MORE RESOURCES updated Fri. October / 19 / 2018
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
How Credible worksCredible News (blog)It's quick and painless. Tell us a little bit about you and your home to get accurate prequalified rates without impacting your credit score. 2. Compare rates from multiple lenders. View the interest rate and cost breakdown of each loan to choose the ...and more »
RELATED MORTGAGE AND REFINANCING ARTICLES:
Mortgage Can Really Save You Money
Refinancing a mortgage is simply taking out a new mortgage.
It means paying off one or more old debts by getting a new
Bankruptcy - Bankruptcy Discharged Yesterday? Purchase a
So you have been through a bankruptcy and surely have been
told to wait at least two years before applying for a home
loan. Waiting two long years without any guarantee of being
approved for a mortgage after bankruptcy can be
Stock Market, Bonds,
Deposit Account, Cash, Equities, Unit Trusts - Few, Just
Few of the Ways of Sav
Man has been known for continually simplifying things in
his own interest. First he devised mortgages then several
sub categories under it like buy to let mortgage, council
right to buy, reverse mortgage.
How To Find A Mortgage
With Bad Credit
Shopping online for mortgages ought to be trouble free,
even should you have poor credit or no credit score. You
can nonetheless find a bad credit lender that can
Reverse Mortgages Learn
The Facts First!
Reverse Mortgages, Most Common Features: Many offer special
appeal to older adults because the loan advances, which are
not taxable, generally do not affect Social Security or
Medicare benefits. Depending on the plan, reverse mortgages
generally allow homeowners to retain title to their homes
until they permanently move, sell their home, die, or reach
the end of a pre-selected loan term.
How to Secure the Best
Mortgage Deal and Save Yourself Thousands in
When you consider that the average home owner will pay out
far more in interest over the lifetime of their mortgage
than their home actually cost in the first place, you can
see why working to secure yourself the best possible
mortgage deal now could save you tens of thousands of
dollars in interest over the 25 - 30 year lifetime of your
home loan. For the majority of us our house is the single
most important and expensive purchase we ever make! Because
this is the case we invest a lot of time and effort into
finding the perfect property in the most ideal location,
however few of us invest the time and effort we should into
researching and securing the best possible finance method
for purchasing our home.
7 Credit Improving Steps
You Must Take Before Applying For A Mortgage
If you think you have good credit, think again. Chances are
there is something on your credit report that can effect
your credit rating; this type of news is particularly
alarming if you are shopping for a loan or applying for
Bad Credit Mortgage
Loans - How To Get Approved
Persistence is the key working toward getting approved for
a bad credit mortgage loan. There are many factors that
you, as a borrower have control over that can help you get
approved faster and easier.
How to Shop Around for
the Cheapest Mortgage Deal Online
Before you start shopping around for a mortgage, you need
to establish exactly what you want so that you do not waste
your time looking at deals that will not save you money.
You should also learn how to compare mortgages or choose
what features of the finance package are important to you.
Bad Credit Refinance
Loans - Finding a Good Lender
Finding a good lender to help you with refinancing your
home loan can be tricky if you have bad credit. There are
plenty of predatory lenders out there who would like to
take advantage of you with excessively high interest rates
What is a Self-Employed
Self-employed mortgages, as the term implies are mortgages
designed for those that are self-employed. Traditionally
it's been more difficult for the self-employed to get
5 Home Buying
Purchasing a home involves certain important, even
essential, steps that every buyer should take before
closing on a purchase. Let's examine these "essentials"
which, if properly implemented, can help you save valuable
time and aggravation.
Bad Credit? With Poor
Credit You Can Still Refinance Or Get A Home Equity Line Of
Have you decided to refinance your home or apply for a home
equity line of credit but worry about your credit rating?
Even with poor credit it is possible to refinance your
existing mortgage or obtain a home equity line of credit.
New practices in the lending industry have made it easier
than ever for you to refinance your mortgage or get a home
equity line of credit.
Find the Best Mortgage
If you do not wish to commit to living in one place for at
least a few years, then owning a house is probably not for
you, at least not yet. With the transaction costs of buying
and selling a home, you may end up losing money if you sell
Home Equity Loans - Are
They Right For You?
The bills are out of control and you need a new car. "Maybe
we can get a new carpet and paint the house", you say to
Reverse Mortgages: When
Is One Right For You?
How do you know if a reverse mortgage is right for you? The
answer depends on your current financial situation of
course.But other factors such as your medical condition and
lifestyle are important in determining whether or not a
reverse mortgage is your best choice compared to a home
equity loan, a line of credit, or just selling your home.
A Guide to UK Buy to Let
Essentially there is little difference between the process
that one follows for a buy to let mortgage in the UK than
there is for any other type of mortgage. The lender still
has to consider your credit worthiness, the value of the
property, how much down payment you can afford and all of
the other usual considerations.
Are You A Victim Of A
Predatory Mortgage Foreclosure?
Help is available to borrowers who have claims against
their lenders for violating the Truth in Lending Act and
other laws regulating credit transactions. Such violations
may be a defense to a mortgage foreclosure.
Companies -- Choosing The Right One
Searching for a mortgage refinance company can be a
daunting task. In a moderately sized city, there could be
at least several major refinancing companies and several
smaller local refinancing institutions.
What Exactly is a
Mortgage Broker and How Can He/She Help You Save Thousands
on Your Mortgage?
Have you ever heard of a mortgage broker before? If you
haven't, then you definitely need to give yourself more
options whether you are applying for a new home loan or are
refinancing your current loan, and learn what they are all
about. Mortgage brokers can help you save thousands over
the life of your loan.
used office furnishings-supplies-equipment-desks-cubicles-service-counters for
sale in Akron Ohio
Die cast model cars for sale in Akron Ohio
used cars for sale in Akron Ohio
unfurnished homes for
rent in Akron Ohio
ARM compare rates find the best rates current in your area lenders read reviews calculator adjustable rate loan home lenders brokers
quotes florida houston gmac washington interest only 2nd software debt consolidation
reverse senior equity texas maryland options lending bad credit
option one ameriquest chase first banks emc residential california miami dallas est branch marketing
home company commercial yahoo online bad credit low credit no credit