Consumers seeking home loans need to be vigilant against scam artists, especially now that U.S. banks are tightening lending standards for nontraditional and sub-prime home mortgages, making loans harder to come by.
The FBI recommends the following to avoid mortgage fraud:
* Get referrals for mortgage professionals, and check their licenses with state, county or city regulatory agencies.
* Be wary of unsolicited contacts and high-pressure sales techniques.
