Had a response yesterday from a learner concerning the importance of "Practise Preventative" in the areas of Price, Terms and Condition. See previous post entitled "Legal" to review that topic.

In the area of fraud, especially mortgage fraud, "U" are usually capable of spotting the fraud when, as a PREA (Professional Real Estate Agent) you "Practise Preventative" in premarketing research in the areas of Price, Terms and Condition. (See previous post, "Legal" for explanation of PTC)

By whom and exactly how was the asking price set? Was it "U"?

By whom and exactly how were the terms of financing decided for an initial offering? Was it "U"?

By whom and exactly how were all aspects of the property condition evaluated and /or repaired prior to the initial offering for sale? Was it "U"?

Now that you have asked those 3 questions, ask these three (3).

By whom and exactly how was the contract price set? Was it "U"? Was anything in this area an oral agreement to be determined at a later date? Was it "U" that suggested the later determination?

By whom and exactly how were the terms of financing decided for written inclusion in a contract for sale? Was it "U"? Was anything in this area an oral agreement to be determined at a later date? Was it "U" that suggested the later determination?

By whom and exactly how were all aspects of the property condition evaluated with agreements for inspection, repair or no repair for written inclusion in a contract for sale? Was it "U"? Was anything in this area an oral agreement to be determined at a later date? Was it "U" that suggested the later determination?

Fraud, especially in the mortgage arena does not happen without an intentional "U" participating or at the least, an ignorant "U" participating.

So, if you are in the mortgage arena, the listing and selling arena, the appraising arena, the investor "flipping' arena, the closer arena, the insurance arena or any aspect of a real estate transaction, "U" means you.

Years ago, there was an ad from "Smokey the Bear" and it went something like the following: "Only You Can Prevent Forest Fires". That ole bear had it right.

And, just like a forest fire, "Only "U" Can Prevent Mortgage Fraud." So....ask yourself this, "What are U doing to stamp the U out of mortgage fraud?"

Well, Smokey The Bear was a long time ago, about the time a favorite song of mine was hitting the charts. This song is my best "Practise Preventative" answer to the question, "What are U doing to stamp the U out of mortgage fraud?" That song? "It Ain't Me Babe...It Ain't Me You're Looking For."

Start humming the song, you'll like it. Like any catchy tune, others will join in.