Mortgage Fraud- Watch out for these signs
Do you know the signs of mortgage fraud?
Watch out if:
• someone offers you money to use your name and credit information to obtain a mortgage.
• you are encouraged to include false information on a loan application.
• you are asked to leave signature lines or other important areas on a loan application blank.
• the loan amount on the mortgage is significantly higher than the value of the property.
• the mortgage has been refinanced several times and in each instance, the amount of the mortgage has increased.
• a seller or investment adviser discourages you from seeing or inspecting the property you are buying