Augusta
VIP Contributor
Loan flipping scam is real . This is a scam that the predatory lender pushes a homeowner to refinance their mortgage again again. By making them to keep borrowing more money from them. This scam lender charges high fees with each transaction, and at the end of the day the homeowners get stuck with higher loan payments they can’t pay after they have been duped into borrowing a lot of their home’s equity.
When it comes to this scam the Seniors are the most vulnerable because of their high level of memory impairment and might not even know they’re being taken advantage of,
it is expedient that a lot of people know about this loan flipping so that they can protect themselves from falling a victim.
To protect self it is adviced that you be wary of Predatory lenders that will try to convinced you as a homeowner that they can help you find a better loan product. it is a ploy to get you into more debt after taking your money through high fees or charges
For the elderly homeowners or the seniors especially with hearing impairments or cognitive issues. They can protect themselves from this scam by getting a trusted relative or friend involved in any key financial discussion
When it comes to this scam the Seniors are the most vulnerable because of their high level of memory impairment and might not even know they’re being taken advantage of,
it is expedient that a lot of people know about this loan flipping so that they can protect themselves from falling a victim.
To protect self it is adviced that you be wary of Predatory lenders that will try to convinced you as a homeowner that they can help you find a better loan product. it is a ploy to get you into more debt after taking your money through high fees or charges
For the elderly homeowners or the seniors especially with hearing impairments or cognitive issues. They can protect themselves from this scam by getting a trusted relative or friend involved in any key financial discussion
