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