Housing Market Fraud
There is a very scary thing happening in the US property market nowadays as well as the UK and it is reaching all over the world. It is called the housing market fraud and is causing investment companies and banks to make a fortune off the misfortune of others.
Many people are desperate to invest in property and it everyone's dream to own their own house or apartment.
This is how the scam artists get to work. There has been speculation that banks and loan companies have teamed together to create an artificial property market boom. This means that the average person tries whatever they can to be involved.
They believe that they will make a huge profit on their investment and end up taking interest only mortgages and other unethical schemes that force them into situation that they cannot afford to repay.
The housing market fraud makes sure that they cannot pay back the loan and this is when the interest gets piled on to as much as 80 percent.
The victims will end up paying only the interest back for the rest of their lives and will never even touch the initial capital that they took the loan out for. This prevents them from getting money from other lending firms and gives them bad credit ratings.
The best advice that can be given is to not trust a loan company that agrees to give you a loan even if your credit is bad or you do not earn that much money.
They will get you in the end with large monthly installments that you cannot make or pile on interest. This is how the housing market fraud system works.
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