When it comes to securing a mortgage, the process can be difficult enough without having to deal with a mortgage scam or some type of loan fraud. Understanding what kinds of scams you may encounter during the lending process can help you avoid getting scammed. Knowing what to avoid when it comes to predatory lending practices and other mortgage loan fraud can provide peace of mind that you’re making the right decisions as you move forward in securing a new mortgage.
If you’re getting ready to take out a new mortgage and you have questions about the lending process, call Consolidated Credit today at 1-800-435-2261 to speak with a HUD-approved housing counselor. Our housing counselors can help you understand the mortgage lending process and what to look for so you can avoid predatory lending practices.
Protecting Yourself from Predatory Lenders
Buying or refinancing your home may be one of the most important and complex financial decisions you’ll ever make. Many lenders, appraisers, and real estate professionals stand ready to help you get a nice home and a great loan. However, you need to understand the home buying process to be a smart consumer. Every year, misinformed homebuyers, often first-time purchasers and seniors, become victims of predatory lending or loan fraud.
Don’t let predatory lenders and real estate fraudsters take advantage of you!