High-Cost Home Loans: Don't Be a Target
(Separate Website)
Learn how to protect yourself from abusive lenders trying to sell you a loan you cannot afford. This brochure describes several common scams to avoid and offers helpful tips.
By: National Consumer Law Center
Read this in:
Spanish / Español
Home Improvement Scams Alert
(Separate Website)
Many low-income elderly homeowners are targeted by scam artists who use high pressure tactics to sell unneeded and overpriced contracts for "home improvements." Often these scam artists charge more than their quoted prices or their work does not live up to their promises. When the senior refuses to pay for shoddy or incomplete work, the contractor or an affiliated lender threatens foreclosure on the senior's home. In an effort to fight such scams, the National Consumer Law Center focuses this issue of Consumer Concerns for Older Americans on the practices of unscrupulous home improvement contractors. This article concerns information about "Deceptive Sales Tactics", "Deceptive Financing Schemes", "Problems With Contracted Work", and Issues to Consider When Problems Occur.
By: National Consumer Law Center
Protect Yourself Against Predatory Lending
(Separate Website)
Abusive or "predatory" lenders often target people who are elderly, have low incomes, or are strapped for cash. Predatory lending can occur in may different lending situations such as auto, home, or payroll advance loans. Learn how to spot "predatory" lending and protect yourself, your credit, and possibly your home.
By: State of Alaska, Dept. of Law
Sale of Business Opportunities in Alaska
HUGE PROFITS WITH YOUR OWN BUSINESS!
Advertisements like these for making lots of money from your own business sound great. But consumers need to be wary of claims suggesting you can make big profits with little training or effort. This brochure provides information on what you can do to avoid scams involving the sale of business opportunities.
By: State of Alaska
Tips for Consumers on Reverse Mortgages: What is a Reverse Mortgage?
(Separate Website)
A reverse mortgage is a complex home loan for senior homeowners who have built up substantial equity in their property.[1] In a reverse mortgage the lender loans you money based on the value of your home, the amount of equity you have in the home, and your age at the time of the loan application. The lender pays you the money either in a lump sum, in monthly installments, or as a line-of-credit. Unlike a traditional home equity loan or second mortgage, repayment is not required until you sell your home, move out permanently, or die. The amount of money you owe increases over time because you do not make payments. If you sell your home, you can keep any proceeds from the sale of your home in excess of what you owe the lender.
By: National Consumer Law Center
Tips on Avoiding Being a Victim of Fraud
(Separate Website)
Whether you are looking for a deal on a car, a good mortgage, or in home business, these tips will help you spot most scams and how to avoid being a victim.
By: State of Alaska
What is Predatory Lending?
Although predatory lending is not defined by federal law and individual states define abusive lending differently, these practices usually involve stripping equity away from a homeowner. Predatory or abusive lending practices can include:
By: Anchorage Municipality
Adobe Acrobat Reader required. (If you are using a screen reader that does not support PDF format, copy the PDF link, and use the Access Adobe online form to convert this file to HMTL text.)
AlaskaLawHelp is a project of Alaska Legal Services Corporation in collaboration with community partners and advocacy groups, Pro Bono Net, and the Legal Services Corporation. Click here to fill out a user survey.
Home Page
Referral Locator
(Separate Website)
Choose Another Location
