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He sent Colleen his fake credentials and she received what looked like an official FTC letter stating that her Social Security number was associated with fraud and her bank account could be ...
Green Mirage scammers have impersonated more than 400 mortgage institutions and caused hundreds of thousands of dollars of losses to deceived homeowners, many of whom only learn of the fraud when ...
A triangle scam is a type of fraud that involves three parties: the scammer, the unsuspecting buyer, and an innocent third-party seller. The scam typically unfolds as follows:
Back in April, AARP reviewed popular scams for 2022 and noted a Federal Trade Commission (FTC) report claiming that one-third of all business-imposter fraud complaints involve someone purporting ...
Mortgage elimination is a type of mortgage fraud in the United States.In this scam, the promoter first convinces a mortgage holder that the debt that has been contracted is invalid or legally unenforceable, usually due to a combination of alleged technicalities in the note, deed of trust, or other loan documentation signed; the promoters often link their rationale for debt elimination to ...
Detectives probing the death of a 96-year-old California woman nearly two years ago have uncovered she was the victim of an elaborate murder-for-hire and reverse-mortgage scam that sought to gain ...
Subprime loans targeted at vulnerable and unsophisticated homeowners often lead to foreclosure, and those victims more often fall to equity stripping scams. [2] Additionally, some do consider equity stripping, in essence, a form of predatory lending since the scam works essentially like a high-cost and risky refinancing.
Simultaneous closing is a real estate seller financing technique, whereby the private mortgage note created by the seller is simultaneously sold to a note buyer on closing. Typically, the terms of the note are agreed upon between the seller and the buyer with some suggestions from the note buyer.