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Refinancing Mortgages

Over the past several years, lenders, mortgage brokers and home improvement contractors wihtout scruples have targeted homeownersa means of making some quick money wihtout concern about the future consequences to the homeowners and the economy. The following are examples of scamsthat should put a homeowner on alert to a possible problem: more...

Typical Predatory Loan Scams

Refinanced Mortgages(including some home equity refinances)Refinancing can be a trap for unwary consumers. Unscrupulous lenders are notorious for packing hidden fees in the new transaction. In many cases, consumers are lured by consolidation companies that advertise in the wonders of combining all of the consumer's debts into one single monthly payments. They never advertise the fact that the transaction may double the total cost of the existing debt, or that it may put the borrower's home on the line if it becomes collateral for the new loan. more...