10 ways to get a good mortgage

Top 10 Tips for Avoiding Real Estate and Mortgage Fraud- I feel like David Letterman


10.Never sign anything if you don't fully understand what you are signing and agreeing to, AND, always seek assistance from a skilled real estate attorney. If you do not understand something you're being asked to sign, ask for clarification and re-read the document again before signing. Yes it's annoying at times but don't worry about wasting a few minutes of time to get this right the first time.

9. Check referrals and references for real estate and mortgage industry professionals. Check the licenses of the real estate and mortgage professionals with state, county, or city regulatory agencies. Make sure the people you're dealing with are 'in good standing' with the appropriate regulatory bodies. If they have been suspended and have several complaints do you really want to do business with them?

8.Be suspicious of outrageous promises of extraordinary profit in a short period of time. If it sounds too good to be true, it probably is! Again, trust but verify.

7. Always conduct business at either the mortgage bankers professionals office or the title attorney. Doing so gives you further opportunities to verify the agent or broker's professional standing, as well as alleviates pressure you may feel if someone is strong-arming you inside of your own home.

6. Be careful of finding your loan and realtor on the Internet. If you do shop and compare rates and programs make sure it's with at least a few local lenders. Beware high-pressure sales techniques and people who play to your emotions. Again, if it seems too good to be true, it probably is! If you use a LOCAL lender you have some accountability with someone that should care about his local reputation. Can't really go out and meet someone living in Utah.

5.Review information to include recent comparable sales in the area and other documents such as tax assessments to verify the value of the property. Most of the information is online and free. Don't pay for site access. Take a look here to see what I mean for all the info you can find.

4.Make sure the name on any documents you sign matches the name on your driver's license and social security card.
Review the title history of the property with the title attorney to determine if the property has been sold multiple times within a short period. This is a red flag for loan fraud which could include flipping..

3.Make sure you know and understand the terms of your mortgage. Check your information against the information in the loan documents to ensure they are accurate and complete. I have seen many people convinced they have 30 year fixed rates only to have me tell them they have ARM'S

2.Be cautious of any real estate industry or mortgage professional who conducts 100 percent of their business on a cell phone on the road. Upstanding real estate industry professionals almost always have an official office and telephone line. Verify this information before agreeing to conduct business exclusively via a cell phone.

1.Trust but verify all information!!! Yes everyone may think you are a pain in the you know what but don't even worry about that.
Never sign a blank document or a document containing blanks. This leaves you vulnerable to fraud. I really can't say this too many times, if you don't understand what you are signing either ask or don't sign it. Once you do especially on a purchase it's too late.