Foreclosure Rescue Schemes- They will promise you that they will save your home from foreclosure. You will pay up front fees and sometimes they will even have you deeding your home over to them. NEVER sign over your home to a 3rd party! NEVER agree to let them take your home over and they will let you rent from them! NEVER listen to them if they say that you can't talk to your mortgage company! NEVER send your mortgage payment to a 3rd party! For free information about Tulsa, OK foreclosures, visit www.stopmytulsaforeclosure.com. The information is free. There is tons of information available.
Appraisal Fraud- This happens when they say the appraisal is worth more than it actually is. Information about your home will be falsified or exaggerated to cause the appraisal value to increase. This creates false equity in your home. Things to wary of: Appraisals dated before the sales contract; Lists of comparable sales that are not exactly like yours but similar; Is there a third party participating in the transaction? Why? What is their reputation?
Loan Documentation Fraud- This can happen when you want to finance a home. If the borrower provides inaccurate information to the lender, it makes them look better to the lender. They think they can get more favorable rates.
Occupancy Fraud- Borrowers are telling people that they are going to buy a house when they are really planning on renting it.
Short Sales Schemes- When a borrower owes more than their home is worth, sometimes they will fake financial hardship. They will often have someone waiting to buy the home and the bank takes a hit.
Vacant Properties- Vacant properties mean different things for different types of property, especially when it comes to insurance. It is important that you know what vacant means with your insurance for your type of property. When a policy triggers a vacancy clause, you will lose those coverages. This could mean theft, water damage, etc. Make sure that someone is in the property, even if they aren't paying rent. They need to spend the night there usually at least 1-2 nights per week. With a commercial policy there are usually percentages of occupancy required. For your policy, less than 50% occupancy could be considered vacancy. This could mean you lose coverage. Be aware and know where the vacancy clause is and stay within your limits.
For Tulsa, OK insurance, contact Mike Tedford of Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com.
Exterminating Silverfish and Rodents - They love to be in the attic right now. It should be done every 1-2 years and will last for quite a long time. Fiddleback spiders are often in the attic as well because they eat silverfish. You can exterminate for Silverfish and also reduce Fiddleback spiders in your home.
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