Category: Mortgage Fraud

THINK TWICE BEFORE COMMITTING FRAUD

DO NOT COMMIT FRAUD. When you are purchasing an investment property, apply for an investment property loan. Do not purchase an investment property and apply for a second home loan for the sole purpose of getting a lower interest rate. To do this would be mortgage fraud.   Here are a few examples of how this can affect you: 1. Insurance. The lender will make sure you have the correct insurance policy before closing. If you have a second home policy but a renter occupies the property, you run the risk that an accident would not be covered. 2. The...

Read More

BUZZ WORD TRIGGERS

  Use caution when it comes to mortgage loan and refinance advertisements. Maybe you’ve received a text or a call from someone who sounds like your lender who asks probing questions. Mailers promising low rates and payments wrapped up in catchy phrases urging you to act fast.   Some false ads may appear to be from your lender. There are official lookalikes phishing for banking and loan information. Be aware of buzz words or information that seem odd that leave you questioning. And do not provide any personal information, especially loan information.   Always contact your lender if you receive...

Read More

MORTGAGE PHISHING SCAMS

  Phishing scams continue to be on the rise. Especially during the loan closing process.  What can homebuyers do to prevent being scammed? How do scammers get your information? There are several ways to secure your information and negate the possibility for scammers to steal your closing & down payments. Check out this article for a list of what to avoid being scammed   Contact Counsel Mortgage Group we can walk you through the process, we’re here to help. We offer a variety of products and services, ask us how we can assist you today: Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000...

Read More