Home Equity Loans
Before using a home equity loans for any purpose, you should be aware of the pitfalls of these loans. The main thing is that you can lose your home if you fail to meet the payment schedule required by the loan. Another common pitfall of home equity loans is that scammers have found plenty of ways to cheat homeowners out of their most valuable asset. Be sure that you know who you’re doing business with. If something smells fishy (like a high-pressure sales pitch or an inability to put things in writing), then take a step back and make sure the deal is legitimate. Read more
House Mortgage Loan
Mortgage fraud is a crime used by mortgage brokers and loan officers to help land a loan application with their company. The most common way to do this is to lie or intentionally misrepresent the items written on the independent mortgage advice application thus charging the consumer less than they should for the loan, and robbing the lender of their income. Mortgage broker fraud is also designed to add fees to the loan for the mortgage broker. Read more
