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There are many scams that dishonest sellers and lenders use. FHA guidelines are very clear about above-board practices lenders should be using to help you get into an FHA mortgage.

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January 19, 2020
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FHA.com is a privately owned website, is not a government agency, and does not make loans.

How Can I Detect Predatory Practices?

FHA Common Question #47

There are many scams that dishonest sellers and lenders use. FHA guidelines are very clear about above-board practices lenders should be using to help you get into an FHA mortgage. Your bank may be an FHA approved lender, but people do encounter individuals who don't adhere to FHA rules.

If you encounter a questionable person in the pursuit of your FHA home, be sure to report the suspicious activity and consult a housing counselor for advice. The FHA and HUD routinely warn people to stay away from anyone who claims they are your only chance to get into a home. You should also beware of anyone offering you paperwork to sign with blank pages or spaces.

If the closing terms are not what you agreed to, you should not sign. The same goes for someone who tells you that a good deal is only available at a particular lender. Beware of any situation where high-pressure tactics are used. Never sign under those circumstances. Instead, contact the FHA and a loan counselor immediately.

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FHA Loan Articles and Mortgage News

FHA Home Loan Costs to Save for in 2020

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Applying for a One-Time Close Construction Loan in 2020

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Mold-Related Issues and FHA Loans

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FHA Loan Limits for 2020: Going Up in a Housing Market Near You?

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