I have to tell you I have heard stories of how lenders will utilize the bait and switch tactic when people com to them for help. How sad it is because it always takes a lot for a person to reach out and ask for help. I read this article where this woman is $13,000 behind in her mortgage payment. She was being very cautious about someone pulling the old bait and switch. Because she was being very careful, she chose not to do anything and ended up behind on her mortgage payment. I believe in being cautious but not to the point of inaction. When someone approaches you regarding refinancing a current mortgage or even securing a first mortgage, do your due diligence. You need to stop and ask yourself is the person reputable, did you check them out with the Better Business Bureau and you could also check with the mortgage association in your state. Take your time and do not be pressured into making a decision that you will regret later.
