OK - we have reviewed what are some of the scams used in mortgage frauds. What are some ways to avoid them?
Here are a few suggestions:
1. Before applying for a mortgage, get mortgage counseling. Such counseling is available from attorneys and CPA's and, for low-income people, from local housing organizations
2. Ignore high pressure tactics. As with any kind of investment (and we have covered this before), that pressures you to sign now, now, NOW! is probably questionable at best. You should always be given the opportunity to have a disinterested 3rd party (such as an attorney) review the documents.
Here are a few suggestions:
1. Before applying for a mortgage, get mortgage counseling. Such counseling is available from attorneys and CPA's and, for low-income people, from local housing organizations
2. Ignore high pressure tactics. As with any kind of investment (and we have covered this before), that pressures you to sign now, now, NOW! is probably questionable at best. You should always be given the opportunity to have a disinterested 3rd party (such as an attorney) review the documents.
NOTE: THE INFORMATION IN THIS BLOG IS NOT LEGAL ADVICE NOR
IS IT INTENDED TO BE LEGAL ADVICE. IF
THE READER HAS ANY LEGAL QUESTIONS, PLEASE REFER TO AN ATTORNEY.
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tausk
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