Blog Article

Thursday, 31 March 2022

By Leahs Mortgages

This Risky Trend in Pre-Construction Purchases is Raising Red Flags

Shawn Stillman is a mortgage broker at, and is familiar with this issue. “I know,” he wrote me, “that there are ‘brokers’ who will charge $500, ask for ID and a copy of the first page of (the) purchase agreement and get you photoshopped (mortgage) approval.” 

He adds: “I was told by the head of fraud at a major bank that, when asked to confirm a preapproval, the majority are fake.”