California Department Of Consumer Affairs

black house remains as the number one target for scam artists across the country. How many homeowners scramble to keep their homes from foreclosure, scam artists flocking to take advantage.

As the desperate search of home owners to refinance before the sub-prime adjustable mortgages, the shady mortgage brokers offering fee-laden heavy refinancing. Moreover, unlicensed contractors often offer cheap prices approach the cash strapped home trying to make home repairs to overdo -. But shoddy work done

the latest FBI crime report and financial state of today's mortgage fraud as "pervasive and growing, often thriving on an agreement between industry insiders.Mortgage finance violations reported by financial institutions increased from 4225 in 2001 17 127 last year, and the money lost in this type of fraud has doubled in the past year.

desperate and uninformed homeowner unfortunately attracts the desperate lenders, contractors and Repairmen with unsavory namjerama.Glavna advantage of a scam artist and still have the black homeowner's lack of current informacija.Primarni source of information for many black homes (especially first time home buyers and the elderly) without regard to the loan officer, contractor or service technician to talk to first.

This puts the homeowner at a disadvantage because they have nothing to compare the information they give in. So, they just take their word for what they say if it "sounds good" ... sign and what works in front of them.

Here are the top 3 current attacks on the black house.

I Foreclosure Rescue Scams:

With the increase in foreclosures many businesses and individuals find many black homes, especially the elderly are easy prey. Equity skimming, loan flipping and outright theft of property and still meet the file across the country.

If you are in foreclosure to take action immediately. Talk to your lender and ask them to restructure payments or refinancing. You should also understand the rules of foreclosure in your state, such as a schedule where you are in the foreclosure process.

Take advantage of many free foreclosure counseling services offered by HUD, as well as many state, county and local agencies.One of the main problems of Black homeowners who have lost their homes in the last two years he waited too long to take it akciju.Prije you take action - the lender more incentive to work with you. The longer you wait to take action less the lender will have the patience.

II. Unlicensed Contractor Scams:

As a solid financial squeeze more black home, home repair to sit ignored or postponed until something happens like a major roof leaks, plumbing problems or electrical failure.

to cut more corners of the house to risk hiring unlicensed contractors - who have no administrative authority to regulate them. Moreover, they do not carry insurance to cover them in case of injury (which could hold you accountable for you). Plus they often have little or no actual training in their skill.

Department of Consumer Protection offices across the country report a growing number of homeowner complaints about unlicensed work.

III. Loan flipping schemes:

1.Primjer Loan flipping is when a lender convinces you that refinance.Nekoliko months later, the lender is offering more money by repeating the procedure. However, with each loan, pay extra costs (points and fees). Soon the loan grows much to handle.

2 Another example is when a contractor offers to arrange a loan to help you pay for major repair or remodeling job. Once the contractor starts work and begins to tear your house up -. Are asked to sign an additional loan papers with exceptionally high rates and fees

If you do not sign that threatens to leave the job, in the midst of repairs. In fact, the lender's May already paid contractors seeking compensation - giving them less motivation to finish the job. Stuck with this dilemma, most of the house sign papers and eat high interest rates and fees.

If you are facing this problem, promptly contact your state Department of Consumer Affairs.

Conclusion

There is a growing problem among the black house. The problem? Those who know the dangers and do not inform the other black house. That is why most of the scams continue to practice and perfect the Black and minority neighborhoods before moving to other neighborhoods.

This is one reason the scam artist can run through a black neighborhood and quickly decimate him for fraud, bad loans and artificially fix the house before anyone stops them. In addition, black homeowners who do not know do not ask the right information from people who do not know ... Before it's too late.

be aware of these scams is your first line of defense. Your second line of defense is extra careful signing the papers have not read thoroughly and understood, including (and especially) the fine print.

When it comes to lenders and contractors to remember the motto "When in doubt check them out!" - Mir