mortgage fraud foreclosure
What is foreclosure fraud and what causes it?
I just heard the term “fraudclosure” and wasn’t exactly sure what it meants. Is it really true that all 50 states have launched a joint investigation into mortgage fraud?
There are many individuals and companies that feed off of the misfortunes of other. Foreclosure Fraud is when the home owner is offered everything from quick money for signing over the deed to their home, to fast refinancing options that eat up the existing equity to the instant cure of credit woes.
Foreclosure fraud started with the race to sell as many mortgage packages as possible leading to remiss work habits. . .This type of poor mortgage underwriting has caused many mortgage failures leading to foreclosure.
