Avoiding loan fraud
When you’re buying a new house, it’s not just important to make sure that you choose the right property to suit your needs; you also need to make sure that you get the right mortgage deal.
When you’re looking for the right property, you can usually trust the professionals to be on your side. We here at the Bahia Realty Group know that – when we help you to find the home in Tampa that suits you down to the ground, we feel as satisfied as you do. However, some “mortgage” providers aren’t quite so scrupulous, and you do need to be careful. Some news headlines have recently highlighted the dangers of mortgage fraud, so keep your eyes open.
Some so-called mortgage brokers, especially in the area of investment properties, run what is known as a Ponzi scheme. A Ponzi scheme entices investors (such as home buyers) into putting up their money into a scheme, but the broker or middleman doesn’t actually do anything to make that money work. All the Ponzi schemer does is take use the money from investor B to pay investor A. Be wary of any investment plan that tells you that you will get very high returns very quickly. A sound investment is for the long-term.
If you’re really unsure, ask the Bahia Realty Team for advice. We are very experienced and can help you in the right direction. Because when a home buyer wins, we win as well.
Call us to today show you the best deals in Tampa Real Estate.
Jenn Cook