Posted On September 14, 2016 In Recent News
Victims of mortgage fraud can have their lives upended with almost no warning. Scammers committing mortgage fraud may misrepresent the value of homes, create misleading contracts or hide fees in the fine print to rob homeowners. Fraudsters also create fake companies or contracts to scam people who are not fluent in English or familiar with real estate laws. New mortgage fraud techniques are constantly being created, and thousands of Texans are affected each year. This blog may help homeowners, people shopping for mortgages and family members identify common scams.
Scammers target the elderly, disabled or financially disadvantaged. People who are not fluent in English or familiar with Texas real estate laws are also frequently targeted. If you have family members who fall into one of these categories, it is important to help protect them from scams.
Having an attorney review your documents is another way that homeowners can avoid scams. In Texas, homeowners can nullify refinance and equity loans within three days of signing. Attorneys are also adept at discovering hidden fees in the fine print of mortgage contracts.
If you or someone you know is in the process of buying a home, one of our attorneys would be happy to make sure you are getting a fair deal.