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September 12, 2010

Look out for These 6 Loan Scams

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Category: Homeowner Tips, Real Estate Info


We all know that times are tough and keeping your head above water when it comes to your mortgage is one of the toughest things to do nowadays.  Be careful of the providers you choose when attempting to better your mortgage situation since scams abound.  Not all scams are easy to recognize, but here’s a list of  6 that all Tehachapi home buyers  should watch out for:

1.     Any company or person who asks for a fee in advance to work with your lender to modify, refinance or reinstate your mortgage.

2.     Any company or person who guarantees they can get your loan modified or stop your foreclosure.

3.     Any company or person who advises you to stop paying your mortgage company  and start paying them instead.

4.     Any company or person that pressures you to sign over your deed, or to sign any paperwork that you haven’t read, or don’t entirely understand.

5.     Any company that claims to offer “government approved” or “official government” loan modifications.

6.     Any company or person you don’t know that asks you to release financial information over the phone or online.

Check the website for  more information on how to spot scams.

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