How to Stay away from Popular Mortgage Refinance Cons

Ilyce Glink presents ideas on avoiding frequent mortgage refinance scams on present-day Actual Estate Moment. Popular refinance scams involve phony counseling services and fake federal government modification systems. These scams appear with hefty costs for services that will never be supplied, leaving homeowners in an even more durable place. Homeowner’s have reported losing practically $71 million to refi fraud artists.

Safeguard by yourself from refinance scams by expressing “No!” to doorway-to-doorway salespeople and upfront payments. Much better yet, get in touch with your financial institution initially for help refinancing your mortgage.

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1 comment

  1. If your mortgage is held by Wells Fargo, don't contact your bank!  They scammed us on a HARP refinance and tried to persuade us into a falling behind on our Mortgage so we could apply for a HAMP loan modification instead. When we refused to fall for this bait, they denied us the HARP refinance that would have saved us more than $3000 a year in interest for 30 years, even though we were perfectly qualified.  They used a a fabricated 'title issue' when they couldn't find any other way to deny us the refinance…. I repeat, stay clear of Wells Fargo. If you don't, we hate to say 5-8 months down the road when they steal your home "I told you so"…. do your homework… more than 333,000 consumer complaints filed against Wells Fargo alone at the Consumer Financial Protection Bureau and over 500 fraud and conspiracy lawsuits filed against Wells Fargo!


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