Top 10 Ways to Avoid Being Victimized

1. Talk to your bank before considering this option. You may be eligible for a traditional mortgage!
   
   
2. Remember, it may be faster and easier to get into a house by buying on contract. It can be easier to lose it, too! Consider attending CCI’s free credit and home buyers counseling classes so you can clean up your credit, understand the home buying process, and make an informed decision. Fast decisions can be costly decisions!
   
   
3. If you decide to buy a home on contract, have all papers reviewed by an attorney.
   
   
4. Do not sign anything you do not understand. Do not sign anything you have not read.
   
   
5. Is the house overpriced? Do you know the assessed value of the house? Do you know if taxes are paid up to date? Call CCI. We can help you get this information.
   
   
6. Do you know the condition of the property? Hire professionals to inspect the property prior to signing anything. A few hundred dollars now could save you thousands later!!
   
   
7. Does the contract have a balloon payment? Will you realistically be able to pay it, or get financing, when it’s due? We can help you assess your financial decision and make a wise decision.
   
   
8. Does the seller promise to help find financing? Is it with a predatory lender? Again, attend CCI’s free home buyer education classes and learn how to avoid predatory loans.
   
   
9. Does the seller promise to make repairs? Get it in writing.
   
   
10. Be careful! There is so much more to know then what is on this list.

Bottom line - buying a home is the biggest financial investment most people make. Take your time and do it right!

For more information, contact Danny Wagener at 515-255-0800 or danny@iowacci.org