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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 ...
Continue reading → The post Reverse Mortgage Scams to Watch Out For appeared first on SmartAsset Blog. A reverse mortgage can provide older homeowners with an additional stream of income in ...
Mortgage fraud by borrowers from US Department of the Treasury [7]. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above.
Eileen foster was the executive vice president of Fraud Risk Management at Countrywide, and later senior vice president of the Mortgage Fraud Investigations Division at Bank of America (when the two merged), until she blew the whistle on massive and widespread systemic home loan fraud in 2008. [1]
The Phillip Hill mortgage fraud scheme charged in this indictment is the most extensive this office and federal investigative agencies have uncovered to date in the Atlanta area. This indictment is a major step forward in this office's commitment to expose and eradicate mortgage fraud schemes in our community."
The latest evolution of this scam involves approaching homeowners who are current on their payments. "The [scam] that we have seen have a lot of traction with most recently is targeting borrowers ...
Under the new rules, lenders will have to pay further attention to borrowers' financial records, including insuring that their total debt payments don't exceed 43 percent of the person's annual ...
Mortgage elimination is a type of mortgage fraud in the United States.In this scam, the promoter first convinces a mortgage holder (lender) 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 ...