Who are you doing business with? Is your broker, lender, appraiser, or contractor reputable? Verify their license status, current standing, and references before entering into any agreements with them.
When you apply for a mortgage or loan, every piece of information that you submit must be accurate and complete. Lying on a mortgage application is fraud and may result in criminal penalties.
Do not let anyone talk you into making a false statement on your loan application such as overstating your income, the source of your down payment or deposit, not disclosing the nature and amount of your debts or the length of your employment.
Make sure all agreements are in writing and do not contain any blank lines or spaces. Carefully read all documents before signing and retain copies of all documents.
Never let anyone sign anything for you during the loan process. You should review and understand every document before YOU sign it.
If you are unsure of what you are signing, WAIT! Do not sign any documents until all of your questions have been answered and you completely understand what you are signing.
Be cautious when signing quitclaim deeds and grant deeds. These deeds transfer ownership interest of your property.
If you have fallen behind on your payments, contact your LENDER! You will be solicited by numerous companies and individuals promising to save your home-be wary of SCAMS.
If you are facing foreclosure due to the inability to pay your home loan, be aware of people approaching you with promises to "save your equity" by having you sign away the rights to your home.