Springhill Newscenter Home Loan group warn, avoid House Loan and Bank Financing Fraud

rukiah · Dec 5, 2012

People must be aware of fraudsters, they are rampant now.:spin

If approached by someone who gives you offer that is too good to be true, most likely it is a fraud. Being part of a mortgage fraud has it consequences; remember house loans and bank financing frauds are against the law. Always make your own investigation first before engaging in to businesses and availing plans.

Scams that are perpetrated through in house financing are almost limitless. Having a house is not just a luxury but it is a necessity. Buying a house is not just an investment but having a place you can call home. This is a place where you can create memories and a place where you could go home to after a long day, a place where you can be with the family. A place where you can be stress-free so buying should also be stress-free. Nowadays it is hard to have one of your own added the trouble of being scammed by people who will do anything just to steal money to others. Here are some tips to avoid house financing frauds:

Brokers will always find a way for you to extend payment terms. Pay attention to the actual price and interest rate. We often take more importance to the monthly rate rather than the actual price, remember it is always better to pay in shorter term; the longer you pay the higher the cost will be. If ask, “what sort of payment you are looking for?”, he just wants to get an idea of how willing you are to pay so that he can tweak the loan to fit the payment by extending it.

Fraud:bowdown:rant on the other hand is also being committed by the barrowers without the realizing it. The FBI defines mortgage fraud as ”any material misstatement, misrepresentation or omission relied upon by an underwriter or lender to fund, purchase or insure a loan.” Lying about your application falls under the category of mortgage fraud. Even a tiny white lie wouldn’t do, it is considered to be a mortgage fraud. But more often than not, barrowers are not aware of this because a real estate professional suggested it’s no big deal

:drowning.

skyprix · Dec 6, 2012

Re: Springhill Newscenter Home Loan group warn, avoid House Loan and Bank Financing F

 Hi there, this is a very nice article and I learned a lot but also it leads me to more questions. If it is not too much to ask would you please post more articles here in Springhill Newscenter Home Loan Group regarding everything about home loan and investments. And give specific details or ways on how to avoid fraud. Thanks that would be a huge help.

woodyhooder · Dec 14, 2012

Re: Springhill Newscenter Home Loan group warn, avoid House Loan and Bank Financing F

[FONT=&quot]Youre right, that’s exactly what these sites and their articles are for, to inform us people. Thanks for this site![/FONT]

Ash133 · Dec 20, 2012

Re: Springhill Newscenter Home Loan group warn, avoid House Loan and Bank Financing F

Hhmm I do not think so, I think they do they just wanted to get more information I guess.

foxbrent · Dec 21, 2012

Re: Springhill Newscenter Home Loan group warn, avoid House Loan and Bank Financing F

I agree to the both of you, both arguments are correct. I just do not understand why these people do not see it the way we do.