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Real Estate & Property Law

: The Home Equity Theft Reporter

Utah Feds Bust 3 In Alleged Straw Buyer Mortgage Scam Leading To Slew Of Foreclosures; Case Is "Tip Of The Iceberg" Say Prosecutors

By r morris

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In Salt Lake County, Utah, KSL-TV Channel 5 reports:Three Utah men have been indicted in a mortgage fraud scam that netted millions of dollars and left a trail of foreclosures and falling home values in its wake. The scam allegedly involved a dozen homes in Utah, Davis and Salt Lake counties. According to the U.S. Attorney for Utah, the plan was to buy houses in distress, inflate the appraisals

Full post as published by The Home Equity Theft Reporter on March 19, 2009 (boomark / email).

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