Tag Archives: Help

Six Tips To Help Companies Mitigate Mortgage Fraud Risk

Mortgage fraud is one of the fasting growing financial crimes in US history. Techniques to commit mortgage fraud have grown more sophisticated, resulting in more advanced counter techniques to combat mortgage fraud. In 2005 the FBI reported over one billion dollars in property and loans were lost due to mortgage fraud.

Too often the signs of mortgage fraud for profit or mortgage fraud for property are difficult to spot. Many experts agree that the public is ill-informed of potential mortgage fraud scams, making education and documentation efforts even more crucial. The below six steps are basic steps for companies to take to minimize the risk of becoming a victim of mortgage fraud:

1. Be cautious of property brokers insistent that buyers use a specific lender.

2. Ensure you receive copies of signed documents

3. Hire third-party appraisers.

4. Get referrals for mortgage and real estate professionals with an established record.

5. Never sign documents that have missing information.

6. Take advantage of professional services that report on mortgage fraud and collaborate with the federal government.

By investing your time and being diligent, you will mitigate your business’s risk of become a victim of mortgage fraud. Protecting against mortgage fraud starts with you. If your instincts make you suspicious, follow them.

Maintain Good Records:

In the early stages of the mortgage loan application process it is important for the consumer to get referred to an established professional. Consumers should remember when asked for a signature, never sign documents that are incomplete. In addition, the consumer should receive a copy of documents that are signed. Maintaining good records of conversations, contact information and documents exchanged is important.

Third-Party Appraisers:

Just like it is important to be cautious of property brokers that are specific of using a particular lender so too can a mortgage fraud risk be found when not using a third-party appraiser. The appraisal process if neglected can leave you vulnerable to become a victim of mortgage fraud. Appraisal fraud is often encountered when flipping properties. In these situations an unscrupulous appraiser appraises the property at a much higher value. At which point the buyer resells the property quickly for a maximum profit. To reduce your vulnerability for appraisal fraud, utilize a third party appraiser that is licensed properly and verify the appraiser’s license. Online monitoring systems now exist for appraiser license verification.

Mortgage Fraud Professional Services Reports:

Technology can play a complementary role to your efforts to find potential mortgage fraud patterns. Mortgage database software can also help uncover mortgage fraud patterns. A mortgage fraud report is an example of mortgage database software in action. These reports are professional services reports that can be beneficial for mortgage industry professionals. National mortgage fraud databases can help diligent mortgage industry professionals better protect against the risk of mortgage fraud.

Future Considerations for Mortgage Fraud:

When mortgage fraud occurs it is far reaching and impacts the real estate industry and the overall economy. The above were tips and considerations for current issues within the mortgage fraud industry. What will be the future significance of mortgage fraud, loan fraud, appraisal fraud, mortgage lending fraud, and mortgage database software onto the mortgage and real estate industry?

Michelle Thiel is an advocate for the information industry with an interest in mortgage fraud, loan fraud, appraisal fraud, appraiser license verification, and mortgage database software.

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Help! My New Car Financing Has Eaten My Raise!

Let’s take a look at the facts: Housing prices are rising at a clip of 10-15% per year, tuition costs are rising by an average of 10% each fall, and energy costs – well, the average rise in prices depends on the week you happen to be looking at, but double-digit increases have been the norm for the past few years. And now, the really depressing fact: Average wage increases have hovered between a measly 3 and 4 percent for the past three years. Now what, you ask, does any of this have to do with car financing?

Hey, as simple as can be stated, it boils down to numbers. Interest rates: These are the hidden little killers that can destroy retirement plans and lifestyles over the course of a lifetime. Car financing is the second most important credit-related decision you will ever make, the first being the mortgage on your home. So, just as an example, let’s say that you make $ 30,000 per year and are looking to finance a $ 25,000 car over five years. The difference between attaining approved car financing at 6% interest and 16% interest equals $ 130 per month if you take the loan out over 5 years! And here’s the clincher – a 3% annual increase in salary will net you an extra $ 900 per year (and that’s before taxes), while saving $ 130 per month on your car financing puts nearly $ 1600 more dollars in your pocket. (And hey, that’s after taxes!) Even a few percentage points difference on your car financing can actually equal or exceed the raise you got from work this year!

I had no idea those tiny numbers could add up to so much money! What is my best option for getting an approved car finance plan – with the lowest interest rates?

In the end, your credit rating, and the interest rates it commands, can make or break you over the course of your life. Car financing is not rocket science, but you really have to be careful with the numbers – or you can end up paying thousands of dollars more than you have to. Your best approved car finance option is probably going to be obtained through a bank or credit union. The great things about getting your car financing through a bank is that you tend to get the best rates, personalized service, and you don’t have to worry about some pushy car salesman trying to shove useless add-ons down your throat every five minutes! However, banks and credit unions have higher car-financing standards, so you need decent credit to consider this as an option.

But wait a minute – the banks always take forever to process a loan, and the salesperson at the dealership can get me approved in minutes!

This is very true. But there is a price for that convenience, isn’t there? The dealer almost always offers you a higher rate on car financing – and be prepared for them to try and sell you every single add-on you never wanted in the hour it takes them to fill out the paperwork! That approved car finance arranged through the dealership may save you a week over financing through a bank – but just a few percentage points difference in interest rates can easily cost you $ 1,000 more each year for the entire length of your loan. So in the end…how much is that week worth to you?

All right…the dealer can be a bad option for car financing – but what about those online places that can approve me in minutes?

In all honesty, the Internet can be a great place to secure approved car finance. With the ability to hop around and shop the different sites, you can definitely get some decent interest rates, sometimes comparable to those offered by a bank – plus you can get approved in minutes, and be driving your new car in a day or so. So what’s the catch? Well, the Internet has more than its fair share of scammers just looking to get your social security number and other vital information. If that car financing information ends up in the wrong hands…well, you can do the math! Plus, the ‘Net can be terribly impersonal at times – but it is still a viable option for approved car finance at competitive interest rates.

Impulsive and poorly made car financing options can literally cost you the price of an entire new car over the course of your life. Approved car finance is available through a number of outlets, and each has its own benefits and disadvantages. However, if you want to be able to afford actually driving your new car someplace other than home and work for the next few years, you may want to avoid the inflated car financing, AND those useless add-ons, offered by dealerships.

Albert Medinas has developed and maintains the website Car Financing Resources , which answers the most common questions drivers have about Car Financing. Please visit us at http://www.carfinancingresources.com today.

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Knowing How The Fair Credit Reporting Act Can Help You

The Fair Credit Reporting Act (FCRA) has been produced to guard the actual rights of shoppers. Are you mindful of the particular conditions and terms of the FCRA? Understanding your privileges as well as limitations will help you prevent bad credit or even improve your personal credit. In this informative article, let’s take a close look at some of these conditions and terms.

Free Annual Credit Report

Under the FCRA, all consumers are entitled to obtain one free of charge credit report through each credit reporting agency annually. The 3 main credit bureaus (Experian, Equifax, TransUnion) has set up an official website in which consumers may request for their own free annual credit report. You can get all your 3 reports simultaneously or order a single copy at a time throughout the year.

To obtain your own free of charge report, go to www.annualcreditreport.com or even print out the Annual Credit Report Request Service form in the FTC’s website (ftc.gov/credit) and send out it via post mail to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You may also request by means of phone through calling this toll-free number, 1-877-322-8228.

You’ll be asked to provide personal information such as your name, address, Social Security Number, as well as date of birth. Therefore, it is vital to make sure that you are on the official website whenever seeking for the free online credit report. Instead of clicking on a link, our recommendation is that you manually type the particular URL (http://www.annualcreditreport.com) in the address bar of your browser.

Take note that annualcreditreport.com is the only website authorized by the government to distribute free of charge consumer credit reports. You may run into some other websites that provide free credit reports but these sites could be owned by unscrupulous lenders or identity thieves who’re attempting to victimize people.

Free Credit Reports

There are also other circumstances in which entitle consumers to a free credit report. For example, if you think you’ve been a victim of identity theft, or maybe if you have been denied by a creditor on account of your credit history, you are able to request for a totally free report. You also can ask for your totally free credit report if you’re jobless and also intends to look for a job within the next 60 days.

The Right to Dispute

Based on the FCRA, consumers have the right to dispute errors and also not authorized fees in their credit reports. You may also request the particular bureau to remove obsolete information from your file especially when they’re derogatory. Examples of negative remarks which should not really stay in your file for more than seven years are usually bankruptcy, tax liens and court judgments.

If you discovered errors in your credit report, you can send a credit dispute letter to the bureau which released the report. In your letter, you should clearly identify those items in your document which needs to be remedied. In applicable, include copies of documents to support your claim.

The Right to Free or Affordable Credit Repair Service

Under the law, the legitimate credit repair agency must supply a customer with a copy of the “Consumer Credit File Rights under State and Federal Law” before signing an agreement. This document stipulates the consumer’s rights and responsibilities to ensure that you will not be scammed or perhaps ripped-off by deceptive credit repair agencies.

Suzy Vanstrusen is a credit analyst and a writer of the website http://www.ezcreditrepairsolutions.com and has been providing consumers with tips and tricks in credit repair . Check the site to help you out with your bad credit loans .

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Use Free Credit Repair to help you

As you are in all probability substantially conscious of, your credit report is probably the most important component in your financial life. If you are experiencing troubles due to your credit score, and so you are in all probability inquiring about free credit repair. Before you can get into repairing your credit rating, you experience to first envision the importance and the kind of affect a poor credit score can experience upon your liveliness.

Unfavorable credit scores happen for a variety of reasons. Perhaps you were at a bad place in your life and had problems establishing payments. Maybe you realized difficulties and had to file for bankruptcy. Perhaps, you merely got in over your head, which goes on to a lot of us believe it or not. Nevertheless, in order to take advantage of free credit repair, you first have to realize what is connected to your credit report.

The first measure to free credit repair is to obtain a copy of your credit reports. Yes, reports, because at that place are three major credit reporting agencies accessible, TransUnion, Experian, and Equifax. You should call or write them and request a copy of your credit report from each one. The great news is that in several sites, you can obtain on free copy of your report every last year from each agency.If you do not live in those areas, the credit bureaus will hand you a free copy if you have been refused any type of credit recently.

You should obtain your report within a maximum of two weeks. Here is where the free credit repair should start. When you receive your reports, look them through cautiously. Equate them with your individual records, interpret what they are stating, and make marks of any errors that you learn. Even though record keeping has gotten improved with computers, many a times individuals get on their credit ratings due to errors.

If you find errors, which may include items that you did not purchase or charge, such as in the cases of identity theft, or items that have been paid off but are noted as unpaid or delinquent, or items that you are current on, but are not noted in the credit reports correctly, you should take immediate action.

You can get hold of the credit bureaus in writing, giving notice them of the error and they will see into it. This is utterly free and costs you nothing. Even So, when it comes to free credit repair, you cannot just expect that they will take your word for it. If this was the example, on that point would be no such matter as a negative credit rating as everyone would be challenging and removing their bad debt.

When you write the credit bureaus in efforts to look for free credit repair, you call for to supply as much information and substantiation of your claim as feasible. This could be a receipt, a letter from the creditor, or yet a cancelled check. If afterward looking into the claim, they learn that there is an error, it will be directly taken from your credit report.

Free credit repair also takes on making payments on time, paying off old debt, and seeking . All of these, even if you are late paying off your debt, looks better to creditors than not paying them at all.

If many of you would like more information on this subject and how to repair credit or if many of you are in need debt relief Beatlands Credit Repair has many debt subjects and tips that can be

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Secured Debt vs. Unsecured Debt – Debt Settlement Help

Many Americans don’t understand the difference between secured and unsecured debt. In fact, few Americans even know either secured or unsecured debt exists.

* Secured debt – Debt backed or secured by collateral to reduce the risk associated with lending. An example would be a mortgage, your house is considered collateral towards the debt. If you default on repayment, the bank seizes your house, sells it and uses the proceeds to pay back the debt.
* Unsecured debt – A debt that is not tied to any item of property. A creditor doesn’t have the right to grab property to satisfy the debt if you default. The creditor’s only remedy is to sue you and get a judgment. Credit card debt falls into this category.

Difference
The most straightforward way to understand the difference between unsecured and secured debt to is to work out if your creditor can take away any item or property in the case that you are not able to repay the overdue amount in time. Common examples of unsecured debt, other than credit cards, are medical bills and store cards where you aren’t putting up any materials as security for the debt. Car payments and home loans however do have physical items attached.

Bankruptcy
Secured and unsecured debt also make a difference when it comes to bankruptcy. In Chapter 7 bankruptcy, you can make the choice of either keeping the product or property and pay off your debt in some other way. When a debt is secured, the creditor has rights in the security (or collateral) in addition to the rights against the debtor. The debtor’s personal liability may be discharged in Chapter 7 while lien rights in the collateral pass through bankruptcy unaffected unless they are avoided or stripped down. In Chapter 13 bankruptcy, you are allowed to keep the merchandise or property, but you will be allowed to pay off your debt according to the Chapter 13 plan.

Danger of Both
Debt Settlement agencies will tell you that both secured and unsecured debt are dangerous. With secured debt, you could lose your home, your car or other possessions. With Unsecured debt, your credit score could take a major beating, any future loans could have seriously high interest rates and more.

Unsecured Debt
Many households across the United States have over $ 25,000 in unsecured debt. In fact, the average American carries over $ 9,000 in credit card debt alone. This raises stress levels, causes sleep disorders and sometimes even depression. Hiring a qualified debt consolidation or debt settlement company can help you clear your debt quicker, pay off your loans for less than you owe and move you towards financial freedom.

Unsecured debt includes:
* Credit Card Debt
* Medical/Hospital Bills
* Department Store Charge Cards
* Oil/Gas Credit Cards
* Personal Loans (unsecured)

USA Debt Settlement – Debt Settlement company / Debt Settlement companies – for more information about Debt Settlement visit www.usadebtsettlement.org

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Some Free Credit Repair answers that will help

As you are in all probability substantially conscious of, your credit report is probably the most important component in your financial life. If you are experiencing troubles due to your credit score, and so you are in all probability inquiring about free credit repair. Before you can get into repairing your credit rating, you experience to first envision the importance and the kind of affect a poor credit score can experience upon your liveliness.

Unfavorable credit scores happen for a variety of reasons. Perhaps you were at a bad place in your life and had problems establishing payments. Maybe you realized difficulties and had to file for bankruptcy. Perhaps, you merely got in over your head, which goes on to a lot of us believe it or not. Nevertheless, in order to take advantage of free credit repair, you first have to realize what is connected to your credit report.

The first step to free credit repair is to get a copy of your credit reports. Yes, reports, because there are three major credit reporting agencies available, TransUnion, Experian, and Equifax. You should call or write them and request a copy of your credit report from each one. The good news is that in some places, you can receive on free copy of your report each year from each agency. If you do not live in those areas, the credit bureaus will give you a free copy if you have been denied any type of credit recently.

You should encounter your report within a maximum of two weeks. Here is where the free credit repair should start. When you obtain your reports, search them through carefully. Compare them with your individual records, understand what they are articulating, and make remarks of any faults that you learn. Even though record keeping has gotten improved with computers, numerous times masses have on their credit ratings due to errors.

If you receive errors, which may include points that you did not purchase or charge, such as in the cases of identity theft, or points that have been paid off but are mentioned as unpaid or payable, or details that you are current on, but are not evident in the credit reports correctly, you should take prompt action.

You can contact the credit bureaus in writing, giving notice them of the error and they will look into it. This is utterly free and costs you nothing. However, when it comes to free credit repair, you cannot plainly expect that they will take your word for it. If this was the case, on that point would be no such matter as a negative credit rating as everyone would be challenging and removing their bad debt.

When you write the credit bureaus in efforts to seek free credit repair, you want to provide as much information and substantiation of your claim as possible. This could be a receipt, a letter from the creditor, or even a canceled check. If subsequently looking into the claim, they find that there is an error, it will be instantly removed from your credit report.

Free credit repair also includes making payments on time, paying off old debt, and seeking credit counseling. All of these, even if you are late paying off your debt, looks better to creditors than not paying them at all.

If many of you would like much more informative subjects on this subject and how to repair credit or if many of you are in need debt relief Beatlands Credit Repair has many credit repair subjects and tips that can be

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Confidence And Knowledge Are Of Great Help To First Time Car Buyers

Car buying is an exhilarating experience. Let me first congratulate you on your decision of buying a new car. Don’t get overwhelmed. The auto industry can be quite mysterious for a beginner. Let’s begin to unravel the auto secrets. It will instill confidence in you and help you buy your perfect car in no time.

What You Need Is What You Buy

Your car depends on your needs. So, it is essential that you first recognize your needs. Read reviews and articles to get better understanding of cars. Knowledge of different cars will open your mind to several options.

If you are a student, a convertible is just fine for you. If you live in mountain terrain, SUV will be good for you. So before going to the dealer or searching online, have a basic idea of the car.

When you decide on the car, consider several points like:-
>> Is the car’s performance effective?
>> Is the car high maintenance?
>> Are mechanics easily available?
>> Does it have a high re-sale value?
>> Does the car require high insurance?

New Or Old – What’s Your Pick?

Your decision of choosing a new or old car depends on your financial condition. New and used both have its hits and misses.

A new car will be low maintenance. Its resale value will also be high. The only catch is you will have to spend more.

If you think that a new car is out of your reach, then there’s the option of used cars. There is a risk of buying a lemon. But if you stay cautious and scrutinize the details, you can get the best deal. Take help of the Kelley Blue Book value and make sure you are not over-paying.

New or used- in the end are cars. So, consider your situation and take the decision.

Dealer, Private Party Or Online – The Choice Is Yours

When it comes to buying a car, you have options at each and every step.

If you buy from a dealer, you will get large number of cars at one place. They offer special dealer incentives in addition to the manufacturers’ rebate. You also have the opportunity of availing finance from the dealer.

If you don’t trust dealers, private party option is always there for you.

With the advent of internet, online search has become widely popular. You can use the web for searching cars. You will be able to buy cars from other cities and states as well.

Don’t forget to test drive the car. Also check the price with other dealers and online companies. This way you will be assured of getting the best prices.

Cash or Credit?

Most car buyers opt for auto loans. If you think you can make a cash purchase, go ahead. But, think long-term. If you have any other major expense coming up, it is better to save for it. Availing auto loans have become very easy with online lending companies. You are no longer required to walk down to lenders. Filling a simple application form will get your work done.

Auto Loans?

If you are availing auto loan for the first time, there are many important things to consider.

Your interest rate will be dependent on factors like your credit score, income, employment details, residential details, down payment amount, etc.

Credit Score

Buying a car for the first time doesn’t mean you never availed credit. If you had taken loan for your home or education and made the payments on time, your credit score will be high. This will help you get a lower interest rate. You can also get a pre-approved auto loan. A pre-decided price range will definitely save your time in searching a car.

If you have a bad credit score, you must apply for a sub-prime or bad credit auto loan. There are several sub-prime lenders in the market who will help you.

If you don’t have any credit history, you can opt for zero credit auto loans.

Income And Employment

Lenders want to ascertain your affordability. Hence, they will want you to have sufficient income. Every lender has a different minimum income requirement. It is ranges from $ 1000-$ 2000.

A stable job ensures the lender of regular payments. So, the lender will need a proof of your employment. Pay stubs of last two months can be used for this purpose. Proof of self-employment can be given with three years’ record of your tax returns.

Residential Details

A constant place of residence ensures the lender of your stability. Generally, you must be living for at least six months at your current residence.

Down Payment

A down payment will reduce your loan amount. So if you can put down money, it is always good.

But, it is not always easy to come up with a huge amount. If you cannot afford it, then don’t forget to opt for no money down auto loans.

Will A Co-Signer Help?

A co-signer signs the loan agreement with you. He/she is liable to make payments in case you miss them.

A co-signer reduces the lender’s risk and consequently your interest rate as well.

If you cannot afford down payment or you have a lower income, then a co-signer can definitely improve your approval chances. Co-signers are generally necessary for a bad credit or no credit auto loan.

If you have someone to co-sign your loan, you may get the chance of altering your loan term. you also have the power of negotiating your loan conditions.

There are chances of unavailability of a co-signer. In this situation, you must avail no co-signer auto loans.

After you decide on the co-signer, you just have to apply for auto loan. Nowadays, lenders offer fast approval so you may soon get to flaunt your car.

I hope this article provided a wide perspective on the entire car buying process. Now, don’t worry about those butterflies in stomach. Know your needs and make a wise decision. Be confident and buy your very first car.

ABOUT AUTHOR:

RapidCarLoans.Net is committed in fulfilling car dreams of all Americans. We offer affordable car loans to first time buyers. A bad or no credit history doesn’t matter to us. Apply today to drive your dream car.