The Rise of Mortgage Fraud

This is a great article from Mortgage Calculator that talks about the rise of mortgage fraud and how to spot common schemes.

The Rise of Mortgage Fraud: How to Spot Common Schemes

The straw buyer scam involves criminals searching for consumers with good credit to use them to obtain financing. The criminals convince these consumers to obtain mortgages for properties. Straw buyers may be promised compensation for this involvement. Sometimes straw buyers do not even realize that their names have been used to obtain financing.

 

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