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Consumers often become mere prey at the hands of the mortgage lenders or money lender as they tend to change the loan rates and prices during the application or the closing period. There are few tips below that can protect you from these people and any kind of fraudulence on the part of the money lenders.

Try to mention all the details and story of your bad times that cannot be mentioned in the application. When your money lender will go through the application, it will become easy for them to follow and do not misunderstand you. Hence such an action will not allow them to make some major changes in the loan terms.

Try to get your loan price adjusted a week or two before closing. To avoid hassles related to late credit card payments and bankruptcy issues.

Try to find the time period for which rate lock is considered as good and if it can be stretched long enough to get through closing.

Keep paying the old loans even if you have opted for a new one. If the old loan is not paid off then the old lender will start reporting about you in the credit bureaus.

Lenders often tend to change the terms on several grounds and entirely create a different meaning to the letters of commitment that you sign.

Never pay artificially inflated interest rates. It’s better to walk out of such terms.