Posted on November 6, 2007 at 2:30 pm :eek: Every year, misinformed homebuyers, often first-time purchasers or seniors, become victims of predatory lending or loan fraud. Below you'll find the top ten ways to avoid becoming a victim yourself. 1. Take your time and shop around. You should be able to compare prices and houses. If a lender or broker tells you they are your only chance to get a loan or owning a home, don't do business with them. 2. Do not sign a sales contract or loan documents that are blank or that contain information which is not true. 3. Be certain that the costs and loan terms at closing are what you originally agreed to. 4. Do not be talked into lying about (or choose to lie) about your income, expenses, or cash available for down payments in order to get a loan. 5. Watch out for higher-risk loans such as balloon loans, interest only payments, and steep pre-payment penalties. 6. Be careful about disclosing things like your need of cash due to medical, unemployment or debt problems. You are very vulnerable in these cases. 7. Don't strip your home equity by refinancing again and again when there is no benefit to you. 8. Beware of false appraisals. 9. Do not let anyone convince you to borrow more money than you know you can afford to repay. If you get behind on your payments, you risk losing your house and all of the money you put into your property. 10. Get several quotes from multiple brokers or lenders so you know you're being charged a fair interest rate based on your credit history, not your race or national origin

Posted on October 1, 2008 at 3:58 am Thnaks for the tips.They are really interesting.When i saw that i noticed what are the flaws i had been doing.This is really very informative.

Posted on February 14, 2009 at 6:17 am Definitly appreciate that info. That is great! Although I'm protected enough through my company, I will practice many of those that you suggested. Hope all is well! La Broi Walton Lbwalton@gmail.com www.KeyingSuccess.com

Posted on March 22, 2009 at 8:09 am These are all excellent tips, and definitely ones that I plan on practicing the next time I purchase a home.  Thank  you for sharing.

Posted on March 22, 2009 at 8:23 am Well, that's some quality information you got there. However, whether we can put it into practice is a different matter....

Posted on March 22, 2009 at 8:45 am Thanks for your suggestions. I have a house-debt, it is under my control. so now eerything is ok.

Posted on April 1, 2009 at 10:42 pm Thanks For Sharing it....

Posted on April 3, 2009 at 2:29 am Gr8 advice.Thanks for sharing your ideas.Keep up the good work.