Freddie Mac Uses YouTube to Warn of Foreclosure Scams

Freddie Mac has posted a video on YouTube to warn of foreclosure scams. It’s a 2 minute video that describes certain foreclosure scams that have surfaced in the wake of the sub-mortgage debacle. Here’s the video:


Topics: Smart Spending

One Response to “Freddie Mac Uses YouTube to Warn of Foreclosure Scams”

  1. I don’t know that I’d call having to put 20% down on an itmsenvent property that bad. To be an investor after all means that you’ve made an itmsenvent. Today banks need to be extra-careful that there are no side dealings or other funny business going on. One of the best ways to prevent that is to require investors to have skin in the game. Lower down payments would mean a much higher chance of fraud or walkaways if the market dropped any further. In Minnesota, from delinquency to the bank taking the home back is often a 12-24 month process more than enough time for an investor to take rents from a tenant and walk away with money in their pocket if they put minimal into the purchase. Even with 20% down payment and additional costs for repairs, at today’s prices many of these properties have fantastic ROI. Reply

Leave a Reply