A Shady Mortgage Person
7 ways to spot a shady mortgage personI found this on blog.mariah.com: 7 ways to spot a shady mortgage lender An interesting read from MSN. I'd say these traits are just as common in lazy mortgage lenders, as they are in shady ones. In the end, clients of neither are properly served. According to the Federal Trade Commission, you may be signing on for trouble if a lender:* Encourages you to falsify your application information to get the loan.
* Urges you to borrow more than you need.
* Pushes you to accept payment terms that you can't realistically meet.
* Fails to give you the required disclosures (e.g., APR, rescission rights, etc.).
* Shows up at closing with a totally different loan product than you agreed to.
* Asks you to sign blank forms. ('It'll speed things up. We'll fill in the blanks later, trust me.')
* Denies you copies of documents you signed.
MSN Money - 7 ways to spot a shady mortgage lender
posted by jkballentine @ 11:32 AM
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