Top 10 Common Homeowner Complaints

By: Filinvest Lands

Home possession is most of the people's dream come true. Don't let it become a nightmare.

1. Real Estate Fraud
“Someone forged my signature for a Grant Deed. The document says my property now belongs to someone I don’t even know.”

Contact your state's real estate commission.

2. Unlicensed Contractors
“I hired a man who said he was licensed to produce repairs to my kitchen. He started the task but never finished. I revealed he isn’t licensed which he recorded a mechanic’s lien against my house.”

Never hire an unlicensed contractor.

3. Foreclosure Consultants
“When I got at the rear on my house payments, I started getting mail from people saying they may save my home. I signed a contract with a guy who promised to frame the back payments and help me get a brand new loan. He didn’t do any of that. Instead, he sold my house to somebody else and now I’m being evicted.”

If you’re behind on payments, call your mortgage company and work out a payment plan.

4. High Interest Loans
“I thought I used to be getting a good deal for a refinance. Turns out, the rate of interest is much too much and they charged me all kinds of junk fees.”

Shop around for the very best rates and charges before obtaining a new loan and make sure your read the fine print.

5. Adjustable and Fixed-Rate Loans
“The loan representative said I used to be getting a fixed-rate, 30-year loan. Six months later, my interest jumped over 3%.”

Review your loan documents till you sign. Interest rates should be disclosed from the lender.

6. Account and Billing Errors
“My mortgage company did not credit my account to make the mortgage payments I’ve made.”

Send a letter for a mortgage company requesting a payment history. Make it a point to include your account number around the letter.

7. Illegal Rooms
“I just moved into the home I bought and the town tells me that a few of the rooms were added without building permits.”

You can be essential to produce shifts. You'll want to check for building permits before buying a home.

8. Repairs and Escrow
“Before I bought my house, the vendor promised to generate repairs. My agent said it had been OK to sign and close escrow, even though the repairs weren't done. It’s been 3 months and the vendor still hasn’t made any repairs.”

Make sure repairs are completed in front of you close escrow.

9. Property Taxes Not Paid
“My mortgage company was imagined to pay my property taxes but didn’t. Now I owe past taxes and penalties.”

Call your mortgage company for an explanation. When they don’t deal with the situation, contact your state real estate commission.

10. Vacant Land Purchase
“I purchased some vacant land in the desert to build a house on. The vendor said it has water, sewers, electricity and phone service. Seems, none of those are available.”

Check with the local Building and Safety Department before you buy vacant land.

Take some time and do your homework. Property purchases tend to be the largest investment one can make. Take time to read the entire credentials and if the don't understand something, ask questions. If necessary, hire a property attorney to safeguard your interests.

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