Here’s a mortgage scam disguised as a good deal. Your dear Great Aunt Martha calls you to crow about her new mortgage — she cut her payment in HALF! Isn’t that wonderful?! Well, maybe not. She might have just gotten stripped. Continue reading ‘Is Equity Stripping X-Rated?’
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Loading ...If you’re an older homeowner with bad credit and a lot of home equity, you are probably being bombarded with junk mail, phone calls, and email solicitations from salespeople trying to get you to refinance your mortgage. Be very careful dealing with these people–they may be practicing a predatory lending technique called equity stripping. They’ll be doing the stripping, but it’s you who ends up naked. Continue reading ‘Older Borrowers Have Different Experiences with Lenders’
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Gina Pogol writes for an online media company about mortgage and finance. In addition to a decade in mortgage lending, she formerly consulted for Experian and other credit bureaus, and worked as a tax accountant for Deloitte. She has a BS in Financial Management from the University of Nevada.
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