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A dream home became a nightmare when Raegan Bartlo and her husband lost $255K to real estate wire fraud. Learn how this elaborate scam works — and how to spot the signs you're about to be their ...
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.
Fraud, or at least charges of fraud, just keep on coming in the mortgage and real estate world, leaving homebuyers wondering where the oversight is. The criminal courts are getting busier, hearing ...
Tom Cronkright, co-founder and executive chairman of real estate fraud protection company CertifID, said that while wire fraud is an overall pervasive issue across the country, it is particularly ...
Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure hunts, and charms and talismans.
Equity stripping or equity skimming is a variation on lease-buyback and is one of the most common types of foreclosure rescue schemes. [4] In it, the perpetrator assumes ownership of the house while allowing the former owner to continue living there, provided that s/he pay rent to the perpetrator, who is the new owner.
How , I wondered, did the victims of this massive real estate fraud not recognize larceny as it stared them right in the face? But there it was in the article I was reading as it came into full
Michael Mastro started his career in the real estate business in 1967, developing real estate projects worth at least $2 billion over 40 years, including commercial buildings and houses. He was involved in hard money loans , mostly to desperate real estate developers, with second or third deeds of trust on projects as collateral. [ 11 ]