Fraud can come in a number of different forms including identity fraud, investment scams, mortgage fraud and title fraud. If someone steals your cell phone you may encounter wireless fraud. Fraud means misrepresenting yourself or some fact about yourself to gain something unlawfully. Read, watch and listen to Think Glink content to learn about the different kinds of fraud and how to protect yourself.
Borrowers Beware of Bad Apple Lenders
Every day, unscrupulous lenders ask borrowers to sign blank mortgage applications. They ask borrowers to overstate their income and to enhance their work history. They advertise that they can help when no one else can and then pocket hefty fees from grateful borrowers when the loans close. Consider these mortgage commandments before you sign a loan application.
Worst Mortgage Lenders Have High Default Rates
In the late 1990s, the National Training and Information Center released lists of the worst mortgage lenders in the country, as indicated by their loan default rates. The worst mortgage lenders had the highest rates of foreclosure. A list of Chicago mortgage lenders is included.