Knowing the Facts about Mortgage Fraud
Colorado has one of the highest rates of mortgage fraud in the nation. Your home is the biggest and potentially most secure asset you will ever have. Unfortunately, the risks of loosing that investment can be just as huge. Below are some links and resources to help protect you from the unscrupulous people out there waiting for you. Keep a few simple tips in mind before you sign or pay anything:
- If it sounds to good to be true - it usually is!
- Check out anyone you are preparing to hire as a realtor or mortgage broker.
- There are fees attached to any transactions, know them, understand them and realize the difference between standard costs and hidden fees.
- Don't ever be afraid or intimidated by the process - ASK QUESTIONS!
Colorado Mortgage Lenders Association - check them out first!
Colorado Association of Mortgage Brokers (CAMB) is a non-profit trade association that represents the independent real estate financing professional specializing in the origination of residential and/or commercial mortgages.
The Denver Post News - Colorado Mortgage Center - This is a well constructed page to help compare mortgage programs, companies and rates. Mortgage calculators, articles and Q & A pages. There is advertising on this page, so stay alert!
If you have a Realtor that you know and trust, ask them who they use. Remember: a word of mouth recommendation can save you big time.