Unfortunately, there are fraudulent individuals in every profession, and it’s just as true with mortgage loan originators.
A story by Claudia Buck in The Sacramento Bee caught our eye this week, warning consumers that mortgage scammers are on the rise again.
As the housing crisis pummeled struggling homeowners, scammers pounced. They offered “easy” loan modifications and “foreclosure counseling” that were often nothing more than attempts to wrest money from distressed consumers.
“The amount of fraud that was occurring in the loan modification sector was unprecedented,” said Tom Pool, spokesman for the California Bureau of Real Estate. “So many were fly-by-night operators who would take consumers’ money upfront and then disappear… It was the Wild West.”
Read The Sacramento Bee’s story: Personal Finance: Beware, mortgage scammers on the rise again.
Check Out Each Person in the Homebuying Process
Our reputation at Marimark Mortgage is of extreme importance to us, as it is with many businesses in our industry.
When buying a home, you will use services from people in a number of professions, including mortgage origination, real estate, insurance, etc.
We recommend that you carefully check out each person with whom you will conduct business. Ask friends and family for word-of-mouth referrals to find reputable people to help with your homebuying needs. Interview people before hiring them to perform services, check their license, check reviews on industry websites and social networks, check for complaints with the Better Business Bureau, gather information about their performance, and do a thorough online search for the individual (and their business).
At Marimark Mortgage, we place Testimonials from our customers on our website. We also have links to reviews on social networks and the Better Business Bureau at the bottom of every page of MarimarkMortgage.com. And we have our license numbers for Florida, Pennsylvania, and Virginia at the bottom of each page.