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Callers spoof the caller ID number of the victim's actual lending institution, swindling money from those seeking financial relief. FCC warns of 50-state scam by fraudsters posing as mortgage ...
Purchasing a home is like investing in a piece of your legacy. Unfortunately, this makes real estate a prime target for con artists. According to the FBI’s Internet Crime Report 2021, the losses ...
Avoid falling prey to these common real estate ripoffs and scams that could see you losing money — or even the property in question. ... Avoid falling prey to these common real estate ripoffs ...
Mortgage fraud by borrowers from US Department of the Treasury [7]. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above.
In 2022, the FBI received 11,727 real estate-related complaints with losses of over $396 million, an 86% increase versus 2020 levels. Home sale scams ramp up amid a housing market short on ...
Additionally, some do consider equity stripping, in essence, a form of predatory lending since the scam works essentially like a high-cost and risky refinancing. Equity stripping, however, is conducted almost always by local agents and investors, while traditional predatory lending is carried out by large banks or national companies. [3]
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