Warning Signs of a Predatory Lender

Legitimate businesses generally dont advertise on utility poles or on temporary signs along the side of the road. Be wary of anyone who calls or stops by your home with an offer too good to be true. Predatory buyers or scam artists may pretend to help you. What they really want is your property. A potential buyer/lender:

  • seeks you out to solve your financial problems
  • pressures you to make a quick decision
  • demands large up-front fees
  • tells you not to contact your current lender or bank
  • tells you not to contact a lawyer
  • asks you to sign papers without giving you a chance to read them
  • asks you to sign papers with blank spaces
  • asks you to sign a deed
  • offers to file bankruptcy for you

 

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