While information about mortgage fraud seems to be everywhere it can still seem unclear as to what exactly mortgage fraud is.The mortgage industry divides mortgage fraud into two categories: fraud for housing and fraud for profit. What can you the consumer do to protect yourself from falling victim to mortgage fraud? What can banks and mortgage lenders do to protect themselves from falling victim to mortgage fraud? Learn more here about mortgage fraud and how to protect yourself.
Selling For Lower Than Home Value
A seller asks about selling his home for a lower home value than its appraisal value. He wonders if selling for a lower home value could be illegal. A wrong home value could lead to mortgage fraud or call the appraisal into question.
FBI Says Mortgage Fraud Has Increased
The U.S. Federal Bureau of Investigation announced this month that it was investigating 1,200 cases of mortgage fraud at the end of 2007. That's an ...
Appraiser Says Mortgage Fraud Requires Bad Appraisals
We received a comment from an appraiser, who defines mortgage fraud this way: Mortgage Fraud: Every one requires an inflated or misleading appraisal....
Should a Homeowner Hire a Mortgage Fraud Auditor?
I've recently been researching the idea of mortgage fraud audits for homeowners who may lose their homes soon. When you have a mortgage fraud audit, ...
Don’t Be A Victim Of Mortgage Fraud
If you're worried about being a victim of mortgage fraud it helps to be familiar with closing documents. If you know what to look for on these documents you can avert mortgage fraud. Knowing what you're signing can save you money and protect you and your family from mortgage fraud.
Picking Up The Pieces After Mortgage Loan Fraud
A homeowner wonders about mortgage loan fraud alleging her husband applied for loans without his name on the home's deed. How was he able to possibly commit mortgage loan fraud?
Mortgage Fraud For Housing Versus Mortgage Fraud For Profit
The mortgage industry divides mortgage fraud into two categories: fraud for housing and fraud for profit. Florida had the most mortgage fraud in the U.S. in 2007.
Brother Might Be Involved In Mortgage Rescue Fraud
Some companies claim that if a homeowner is facing trouble with their mortgage loan, the homeowner can transfer title to the home to the company and when they get back on their feet, the company will, for a small fee, transfer the title back to them. There's a common name for this scam: It's called "mortgage rescue fraud."
Advance Fee Loans Are Illegal
Did you know it's illegal to ask borrowers to pay a fee before getting a loan? Chicago's Better Business Bureau just warned consumers about a scam wh...
House Passes FHA Revitalization Bill
As the Federal Reserve's Open Markets committee was meeting, the House of Representatives was busy working in Washington, DC. The House of Representa...