A New Mortgage Elimination Scam

It's every homeowner's fantasy: to own their home free and clear. There are lots of legitimate ways to pay off your mortgage loan faster, but here's the latest scam for folks hoping to eliminate their entire 30-year mortgage--in less than a year. Everything seems fine--until the county clerk and original lender discover the scam and confront the homeowner, who is soon caught up in a huge legal and financial bind, as well as facing possible fraud and conspiracy charges and jail time.

Why Qualifying For a Real Estate Loan Requires Different Credit than Auto Financing

Qualifying for a real estate purchase requires different credit than auto financing or credit cards. In fact, you may be able to go out and buy a new car today, but you might be turned down for a home mortgage. On the other hand, you could go out and buy a house and be turned down for an auto loan. Find out why mortgage credit is not the same as auto credit.