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“Predatory Lending”

Predatory Lending: Buy a home in Broomfield/Lafayette

www.BuyAHomeBroomfield.com – Appendix D of learning to buy a home in Broomfield/ Lafayette/Arvada: Predatory Lending. Step-by-step guide when buying property in the Denver, Colorado area.

APPENDIX D – Predatory Lending when you buy a home in Broomfield

What Tactics Do Predators Use?

* A lender or investor tells you that they are your only chance of getting a loan or owning a home. You should be able to take your time to shop around and compare prices and houses.

* The house you are buying costs a lot more than other homes in the neighborhood, but isn’t any bigger or better.

* You are asked to sign a sales contract or loan documents that are blank or that contain information which is not true.

* You are told that the Federal Housing Administration insurance protects you against property defects or loan fraud – it does not.

* The cost or loan terms at closing are not what you agreed to.

* You are told that refinancing can solve your credit or money problems.

* You are told that you can only get a good deal on a home improvement if you finance it with a particular lender.

Broomfield, Colorado’s Denver area includes Lafatette and Arvada.