According to a news article on WNEP.com, several people involved with First Advantage Financial have been charged by the FBI for submitting false appraisals and false employment documents in order to qualify borrowers for inflated mortgages.
Consumers, please do not be a party to deception, no matter how much you want that house. It wasn’t just the appraisals here – this guy is charged with presenting falsified employment documents as well.
You will be caught one way or another – and the widespread mortgage fraud across the United States – and here in Pike County – is continuing to take its toll on everyone.
One way it can directly affect you – besides facing possible criminal charges – is that you will end up owing more on your home than it is actually worth. What should be the smartest and best investment of your life could end up bankrupting you and leaving you with nothing.
I encourage buyers to go with a local, long-established bank for their mortgages, such as Wayne Bank, The Dime Bank, or Honesdale National Bank. Each of these banks has multiple branches and capable, ethical loan officers to assist you – I know some of these officers personally and have no problems recommending them.
Additionally, there are independent mortgage brokers who have also shown themselves to be ethical and honest. If your financial adviser is suggesting you “fudge” something – run far and fast!
Bottom line: If you can’t qualify with truthful documents, then you should rethink that purchase.