How To Protect Yourself From Housing Fraud
Channel: USAgov/archive
Date: 2015-11-05

EXP: "How to Protect Yourself from Housing Fraud". A simple guide to help protect your home and
money from scammers.  And with you today...
PST: Professor KnowItAll...
EXP: Professor, what is this? You're a superhero today?
PST: That's right, today I come to protect those in need. 
EXP: Really?
PST: There are lots of scammers out there. A friend of mine almost lost his home because of fraud.
EXP: Well that's true, but you don't need a cape to help. All you really need is to be informed on the topic.
PST: Umm... 
EXP: Take a look at the information in the Consumer Action Handbook - Which by the way, you can order free at www.usa.gov - it helps protect people and shows how to be on the lookout for housing fraud, like what happened to your friend.
PST: Tell me more...
EXP: Before buying a home, you should do a few things One: Do some background research on your realtor and lenders. See if others have filed complaints regarding their professionalism. Two: Take a look at the current interest rates. Three: Verify the rates for 30, 20 and 15-year mortgages. Four: Ask whether the rate is fixed or adjustable. Five: Ask for information about terms and types of loans from various lenders for comparison and don't forget to ask about all the fees upfront, nothing should be added on at the last minute. Never sign incomplete documents. Six: Beware of high pressure sales tactics: for example if they say they're the only ones that can get you a certain rate, or if they tell you to act fast because it's the last one on the market. Many times these companies will say they're backed by the government. Be careful with this... If you have any question or problems with mortgage payments, you can get help from official and trusted resources. All this information and more is available at USA.gov or in Spanish at GobiernoUSA.gov or by calling 1-844-USA-GOV1. 
PST: Wow, you know a lot. Better take my cape -- You're the real superhero.
EXP: I'm no superhero, I'm just a person that likes to get informed. I also have the Consumer Action Handbook, which remember, you too can request at USA.gov. It's free!
PST: I'll do that...