Worst Mortgage Fraud I’ve heard of
I never knew that a house can be practically gone in a flash. Good thing it didn’t happen to me but it did happen to a very close friend of mine. What happened was that he made a loan from a local mortgage company and as a requirement, the mortgage company asked for the original copy of his land title. He was told to go back 5 days later to finalize the loan. 5 days later, the mortage company’s office was nowhere to be found and they took my friend’s land title with them.
I never thought such scam existed and my friend kept on telling himself how stupid he was.
To avoid such an experience myself, I scoured the web for information and came across a mortgage company at www.personalhomeloanmortgages.com. Their website is a bounty for information on how to avoid mortgage frauds / scams as well as how to properly and safely transact with a mortgage company. They also maintain a forum as well as an extensive mortage directory.
Too bad my friend wasn’t able to arm himself with good information before his demise occured.
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