| |
|
|
|
|
Search mortgage fraud news by keyword.
News, analysis and statistics about mortgage fraud.
Stories about individual mortgage crime cases.
Statics by year about real estate fraud.
Quarterly index based on case activity.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.
Archive of FraudBlogger.com entries going back to 2005. |
|
|
| |
|
| |
April 7, 2009
The mortgage fraud trend was for income was falsely overstated in order to qualify for loans, now those same type of cons are helping borrowers to falsely understate income to qualify for loan modifications.
Statistics are showing an increase of fraud on the part of homeowners who are trying to save their homes from foreclosure by lying about their income. This sometimes involves industry insiders who are coaching borrowers on how to dupe lenders.
Authorities are finding altered tax returns and pay stubs that would help make the case of hardship. They are also finding that the "buyer" in a short sale is really a friend or family member, red-flagging the possibility that the sale was set up. This new type of fraud has been dubbed "fraud for desperation."
Read story at The Herald Tribune
|
|
|
