Damages From Mortgage Fraud Multiply As Time Passes

Though property fraud can ultimately be rectified in court, sometimes it's already too late. If the true owner of a property passes away before the fraud is discovered, or if it's discovered during a pending property sale, the resulting delay can be enough to derail the transaction. Inability to Get Refinance Until Title is Cleared Delays in Sales of Property Legal Costs to Clear Up Title. View Video

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A New Twist On Owner Occupancy Fraud

We often hear that there is no such thing as a perfect crime. Perhaps that is why there is always a fraudster trying to improve them.

CoreLogic says the newest wrinkle in mortgage fraud is a reverse approach to the old misrepresenting occupancy scam. Traditionally it has been prospective investors who have claimed they intend owner occupancy.  By posing as a resident owner they might qualify for a better interest rate, lower fees, a smaller downpayment or higher loan amount than they would by applying for a mortgage as an investor. Read More

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