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Homebuyer Advice – Mortgage Mistakes

Written by Timothy Blake on July 29, 2007 under Archives, Suggestions

A great article by Liz Weston tells home buyers what to look out for when buying a home. We recommend reading her entire article as it outlines the 8 biggests mistakes people make, such as:

Foreclosure Avoidance Scams

Written by Timothy Blake on July 29, 2007 under Archives, Suggestions

We noticed a very informative page on the Settlement Scams web site that explains foreclosure avoidance scams that are popping up due to problems in the mortgage industry. It’s a pretty long article but we recommend it. According to the author one key part of foreclosure avoidance scams is making the homeowner think they are talking to their own mortgage company, while the mortgage company thinks the homeowner is avoiding them. Check out their article here.

Check escrowed taxes, insurance as lenders struggle

Written by Timothy Blake on July 28, 2007 under Archives, Escrow, Suggestions

What is your recourse if the mortgage company fails to pay your taxes? What if they do not pay your property insurance? If you read about your mortgage broker going to prison or see your mortgage company on Fox News with Shepard Smith you might want to check your statements. The lenders referenced below are stong and healthy and still made mistakes. Cases in point:

Borrowers try settlement offers to save homes

Written by Timothy Blake on July 28, 2007 under Archives, Suggestions

Common logic once told borrowers that it was shameful to declare bankruptcy. Our parents told us or taught us, to always pay our bills. Lenders knew the basic human values, and that one would always make their house payment and their car payment. But somewhere between those days and today values and expectations changed.

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