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.

11-year old’s note seals the deal for home purchase

child noteSource: The San Diego Union Tribune

Sometimes a hand-written letter can make all the difference. Just ask 11-year-old Faith McNeilly, who wrote a letter to a seller as part of her family’s offer on a four-bedroom home in San Marcos, California. In a tight housing market with multiple offers, letters increasingly are utilized as a way to get a leg-up on the competition and make a lasting impression on the seller.
Read the full story