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Freddie Mac to consumers: Here’s how to avoid mortgage fraud

Justice League

Now this is a joke. Freddie Mac is educating consumers on mortgage fraud!

Housingwire:

As part of a continuing series that aims to educate consumers on all aspects of the home buying process, Freddie Mac released a short video that tells consumers how to avoid mortgage fraud when applying for a loan.

In the video, Freddie Mac identifies several “red flags” that consumer should be on the lookout for, including:

  • Being told to exaggerate your income, assets, credit, or provide false information someone says will help get the loan approved
  • Being pressured to sign paperwork that you haven’t had a chance to read or that you don’t fully understand
  • Being asked to release personal financial information online or over the phone by someone you don’t know

Last year, as a part of the same education effort, Freddie Mac issued a warning to buyers and lenders about scams that offer the…

View original post 59 more words

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