Real estate blog entries tagged with predatory lenders

Blog entries tagged with "predatory lenders":

predatory lenders: Do Not Be a Victim of Loan Fraud--Protect Yourself...! - 07/07/08 02:29 PM

The department of Housing and Urban Development (HUD) offers a brochure designed to educate consumers about ways to avoid becoming a victim of predatory lending scams. The brochure, entitled "Do Not Be a Victim of Loan Fraud---Protect Yourself from Predatory Lenders," ia available in both English and Spanish. Each year thousands … (0 comments)

predatory lenders: Atlanta Home Buyers - Shopping for a Mortgage! Avoid the Traps of Predatory Lending! - 03/21/08 08:38 PM

Atlanta Home Buyers - Shopping for a Mortgage! There is more to buying a home in Atlanta that looking at pretty homes! When it comes to a home buyer shopping for a mortgage in Atlanta or anyplace across the country, most of them do not have a clue what they are … (6 comments)

predatory lenders: Homeowners See Possible relief... Pro's and Con's Abound - 12/07/07 10:45 AM

The cat is out of the bag, and it looks like there may be help for people who are facing unmanageable ARM's. Now *some* people with these sub-prime mortgages can get their teaser rate frozen for 5 years in order to avoid impossible payments. The New York … (2 comments)

predatory lenders: Metro Dream Homes- Parent Company POS in receivership - 10/31/07 04:15 PM

I want to make sure I keep you guys updated on the unfolding Metro Dream Homes scandal; It seems a company named Invotex has taken temporary receivership of POS, which is the parent company for Metro Dream Homes. They have set up a website where interested people can view … (0 comments)

predatory lenders: METRO DREAM HOMES: If it sounds too good to be true.... it probably IS! - 10/28/07 07:27 PM

Just another local real estate scam that is getting lots of attention, particularly from the Attorney General in Maryland AND Virginia. Essentially the accusation goes something like this: Metro Dream Homes convinced people to buy in to their investment program (about 10%-15% of the value of their home) and … (0 comments)

predatory lenders: FRAUDULENT LENDERS CAUGHT IN MARYLAND! - 10/28/07 07:08 PM

It goes without saying that the predatory lending practices that have sprung up in recent years are finally starting to be understood to be just that: PREDATORY. Unfortunately there's been more than a few reports, particularly out of PG County, about financial scams that I wanted to post a little … (0 comments)

predatory lenders: Ding!...Ding! the Winners..I meant.. Lenders ARE: Washington Mutual, Wells Fargo, AND Bank Of America. - 08/20/07 11:16 PM

WOW... What a day it has been in Lender Land! We had dramatic drops in the stock market, last week, the bond market is the lowest since 1985 AND some of the country's biggest lenders are going Down for the Count!
Welcome to the Lending Circus who's ring leader will now be … (8 comments)

predatory lenders: Tips For Avoiding Predatory Lenders in Florida and the Rest of the United States - 07/09/07 10:40 AM

A couple of years ago I had some buyers I was working with. They chose to use a mortgage broker that I was unfamiliar with. All seemed to go well until we got to the closing table. It appeared that the loan terms the buyers had been given earlier on … (0 comments)

predatory lenders: Watch Out For Predatory Lenders! - 07/01/07 12:46 AM

Here are some warning signs to be aware of...
· Sounds too easy. "Guaranteed approval" or "no income verification" regardless of borrower's current employment, credit history, and assets. These claims indicate the lender doesn't care about whether you can afford to make the payments over the long haul.
· Excessive fees. Higher lender … (0 comments)

predatory lenders: Predatory Lenders-Can't We Stop It? - 06/25/07 08:36 AM

It seems that more and more Lenders are sending out some misleading information to get their phones to ring. Being in the industry, although I do not understand all of the Mortgage Lingo, I do understand that all loans are not for everyone. Some of what they send out is almost … (11 comments)

predatory lenders: Loan for 25% interest, at a loan fee of 25 points! What's wrong with this picture? - 04/25/07 04:07 AM

This loan is secured by a property in Irvine. The owner heard an ad on the radio. It advertised a website that would consolidate debts and prevent bankruptcy. He called the number on the website and they directed him to a lender who would consolidate his debts and keep his payments the … (48 comments)