Homeowner123

Providing Homeowners, Buyers and Sellers the Knowledge Needed to Make Great Decisions

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If you are looking to buy a home, sell a home, or refinance a home, Homeowner 123 will provide the knowledge and resources you need to make great decisions.

Predatory Lending and Mortgage Fraud are prevalent in the mortgage industry and Homeowner 123 will provide the information you need to protect yourself against Predatory Lending and Mortgage Fraud.

Are you having trouble making your mortgage payments ? If you find yourself in this situation you are not alone, and you do have options. Homeowner 123 will guide you through these options, and help you make the right decision.

Before you get started exploring the site you may want to check out "The Basics" link, which defines important mortgage related terms and concepts.

What is Predatory Lending

Predatory lending occurs when a mortgage broker, banker, loan originator, or loan facilitator intentionally places a consumer in a loan product whose terms, rates, and costs are significantly worse or significantly higher than that specific consumer could obtain elsewhere in the mortgage market. This is done to increase the compensation or financial gain of the mortgage broker, banker, or loan originator with no regard for the cost to the consumer. Homeowner123 provides consumers the knowledge they need to protect themselves against predatory lending.

What is Mortgage Fraud

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Mortgage fraud involves material misrepresentation and material non-disclosure or omissions of facts relevant to the lending decision. This includes falsification of information tied to employment, income, debts, property value, occupancy status, lien position, credit, ownership and other items needed by the lender to make an informed lending decision. Mortgage fraud is a crime, and Homeowner123 defines and details fraudulent practices and behaviors.

What if I can't make my mortgage payments

If you are having trouble making your mortgage payments you are not alone. First, you need to determine if your financial problems are short term or long term ? If they are long term you need to determine if you are financially able to keep your home. Once you answer these questions you can review your options.

Your Credit Score

Your Credit Score drives the rate you will pay to borrow money. Understanding your credit score is the first step in getting a great rate.

  • Learn More About Credit Scores