Sep
29
2009
Risks associated with the use of home equity loans for other purposes
Posted by: in Mortgage Loans News, tags: Breach, Cheap Source, Excerpt, Fraud, Home Equity Loans, Home Improvement Loan, Loan Borrowers, Money, News Sources, RiskNews Sources wrote an interesting post today on
Here’s a quick excerpt
This is a normal practice for applying for loans secured home improvement, and with the money for their own purposes. If undetected, this is a cheap source of financing. However, depending on the loan, can cause a number of issues that may also cause the Court. Although one might think that “it’s only fraud if you get caught,” the risk of a breach of the rules by Home Improvement Loan Borrowers contractually implied by changes in the end, initially to deter money. The purpose of the money bor
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