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Loan Modification

: Mortgage Lender Implode-o-Meter

FBI: Mortgage fraud on the rise

By Implode-Explode Heavy Industries

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Mortgage fraud is increasing throughout the U.S. as distressed homeowners look for answers to troubled mortgages and find little help from their banks, according to a new FBI report...

The FBI report said mortgage scams on the rise include fraudulent short sales, bankruptcy filings and reverse mortgage schemes, refinancings, modifications and sometimes arson to collect insurance money. Some of the fraud schemes hurt consumers and borrowers while others hurt original lenders, according to the FBI report.

Full post as published by Mortgage Lender Implode-o-Meter on July 08, 2009 (boomark / email).

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