A mortgage scam is a fraudulent attempt to obtain money or personal information from people who are looking to buy or refinance a home. Scammers may pose as legitimate mortgage lenders or they may create fake loan offers. They often use high-pressure tactics to convince victims to send money or provide sensitive information.
Mortgage fraud is a serious problem that can have a devastating impact on victims. In 2023, there are a number of new and emerging mortgage fraud schemes that borrowers should be aware of.
Contract cheats by and large fall into two general classes – loan specialist fakes and shopper fakes. Loan specialist fakes try to exploit the bank, credit union, contract organization or another money lender that gives the home loan. This is […]
Mortgage Frauds: Most Common Lender Mortgage Scam Read More »
Mortgage fraud has turned out to be more pervasive after some time and is a specific worry amid a financial subsidence. Change in lodging markets, property holders confronting abandonment and deceitful people searching for income sans work all add to
Mortgage Fraud: Learn The Scheme Used by Scammers Read More »
Mortgage Company President Charged with Defrauding Ginnie Mae BOSTON – The president and founder of a Falmouth mortgage company was charged in U.S. District Court in Boston in connection with defrauding the Government National Mortgage Association (Ginnie Mae) out of
Financial Fraud: Robert Pena Was Indicted On Conspiracy And Wire Fraud Charges Read More »
North Potomac Mortgage Broker Sentenced to Federal Prison for Defrauding Investors of Over $400,000 Promised to Pay Back Loans from Individual Investors With Substantial Returns in a Short Amount of Time, But Instead Used the Money for Personal Gain Greenbelt,
Financial Fraud: Alexander Matthews and Sultana Siddiqui Sentenced for Mortgage Fraud Read More »
Three Georgia Real Estate Investors Plead Guilty to Bid Rigging and Bank Fraud at Public Home Foreclosure Auctions Three Georgia real estate investors pleaded guilty today for their roles in bid-rigging and fraud conspiracies committed at public real estate foreclosure
Property Manager Sentenced To 15 Months In Prison For Role In Multimillion-Dollar Mortgage Fraud CAMDEN, N.J. – A property manager was sentenced today to 15 months in prison for his role in a scheme to defraud financial institutions as part
Paul Watterson Sentenced For Role In Multimillion-Dollar Mortgage Fraud Read More »
Each mortgage scam contains some type of misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase or insure a loan. Mortgage scam is easily practiced particularly where mortgage industry professionals are involved. The true level
Are you facing problems with mortgage payments? Is your house slipping away from your hands? According to the data from RealtyTrac, more than one million homeowners have faced foreclosure this year, 27% more than this time last year. The following
How to Beware of Reverse Mortgage Scams Reverse mortgages wеrе created tо hеlр senior citizens. Unfortunately, thіѕ financial product hаѕ bесоmе а vehicle fоr а number оf scams geared tоwаrd seniors. Thоugh thе opportunity fоr deception ѕееmѕ tо hаvе decreased
Ringleader Sentenced in $7.4 Million Mortgage Fraud Conspiracy that Targeted Northern Virginia Hispanic Community ALEXANDRIA, Va. – Rosita Vilchez, 41, who was a fugitive in Lima, Peru, until she was extradited to the United States in June 2015, was sentenced
Rosita Vilchez Sentenced in $7.4 Million Mortgage Fraud Conspiracy Read More »
