Watch out! These are the most common mortgage scams
Scams are present everywhere and your mortgage credit is no exception. But to know how to protect ourselves, we first need to know what the operating mode of mortgage scammers is. Now you must look at the best time for you: Will you receive any extra money that will allow you to complete the down payment? if you are behind in your installments, you promise to pay the mortgage.
A mortgage scam can occur both before you apply for the home loan and after it has already been granted.
Scammers usually appear and offer you the possibility of accessing a loan with lower interest rates, they even offer you to enter a government program preferentially. They present names of fake companies that have contact numbers and websites. Some even claim to have been sent by some banks, so you should not forget to call the bank and verify the identity of the person and what he offers.
When the housing loan has already been granted, the scammers offer you to reduce your fees through different modalities or, if you are behind in your installments, you promise to pay the mortgage if you agree to temporarily change the deeds to a “third party” . Nothing guarantees that the scriptures will be in your name again.
In case of delays they also usually offer a thousand and one ways to catch up, always in charge of the fraudster. Do not trust third parties that offer to end your mortgage. Find out which company it belongs to and what its reputation is. Finally, also check with your bank.
You know, mortgage scams are a reality and we must be aware not to fall into them.
Of course, it is also important not to scam ourselves when choosing a loan that does not suit us. Compare them all with the Saturado Grestloads home loan comparison and feel calm about having regulated and secure institutions.