Watch out for this Mortgage Scam

scam alertPutting borrowers into higher-rate mortgages still occurs, U.S. says

Source: The Los Angeles Times

A lawsuit filed recently by the Consumer Financial Protection Bureau indicates that “upselling” remains a pressing concern due to hidden, backroom ploys. “Upselling” leads mortgage applicants into higher-cost terms that increase the lender’s profits, and this abusive practice was banned by the Federal Reserve Board in 2011. Read the full story

Visit www.clarkransom,com if you are considering buying or selling a home.

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