Top,Ways,Avoid,Loan,Fraud,Ever finance, share, loan Top 10 Ways to Avoid Loan Fraud
If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that
Every year, misinformed homebuyers, often first-time purchasers or seniors, become victims of predatory lending or loan fraud. Below you'll find the top ten ways to avoid becoming a victim yourself.1.Take your time and shop around. You should be able to compare prices and houses. If a lender or broker tells you they are your only chance to get a loan or owning a home, don't do business with them.2.Do not sign a sales contract or loan documents that are blank or that contain information which is not true.3.Be certain that the costs and loan terms at closing are what you originally agreed to.4.Do not be talked into lying about lie about your income, expenses, or cash available for downpayments in order to get a loan.5.Watch out for higher-risk loans such as balloon loans, interest only payments, and steep pre-payment penalties.6.Be careful about disclosing things like your need of cash due to medical, unemployment or debt problems. You are very vulnerable in these cases.7.Don't strip your home's equity by refinancing again and again when there is no benefit to you. 8.Beware of false appraisals. 9.Do not let anyone convince you to borrow more money than you know you can afford to repay. If you get behind on your payments, you risk losing your house and all of the money you put into your property. 10.Get several quotes from multiple brokers or lenders so you know you're being charged a fair interest rate based on your credit history, not your race or national origin. Terms of UseCopyright 2004 David E. Brumbaugh. All rights reserved. This article may be published in your newsletter or web site. It must be reproduced in its entirety including the biograpy and web address. Article Tags: Loan Fraud
Top,Ways,Avoid,Loan,Fraud,Ever