Issues

PROTECTING YOUR PAST AND YOUR FUTURE

Social Security Fraud

It today's society social security fraud is a hot topic.

As Recorder of Montgomery County, Willis Blackshear, is working to ensure citizens' safety and privacy, by actively participating in current legistlation to keep social security numbers off public records.

 

 

 

 

 

 

 

 


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WHAT IS PREDATORY LENDING?

(as defined by U.S. Department of Housing and Urban Development)

Lenders, appraisers, mortgage brokers and home improvement contractors who: 

   Sell properties for much more than they are worth using false appraisals. 

   Encourage borrowers to lie about their income, expenses, or cash available for downpayments in order to get a loan. 

   Knowingly lend more money than a borrower can afford to repay.

   Charge high interest rates to borrowers based on their race or national origin and not on their credit history. 

   Charge fees for unnecessary or nonexistent products and services. 

   Pressure borrowers to accept higher-risk loans such as balloon loans, interest only payments, and steep pre-payment penalties. 

   Target vulnerable borrowers to cash-out refinances offers when they know borrowers are in need of cash due to medical, unemployment or debt problems. 

   "Strip" homeowners' equity from their homes by convincing them to refinance again and again when there is no benefit to the borrower. 

   Use high pressure sales tactics to sell home improvements and then finance them at high interest rates.



How can you prevent this from happening to you?
 
   Willis E. Blackshear is currently developing a program to further protect our citizens in Montgomery County. 
Established programs and not- for-profit organizations already exists to help you, and Willis wants to combine those resources to ensure everyone is getting enough information to make informed decisions.

For more information on this program, contact the Recorder's Office at 937-225-4275.