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Beware of Mortgage Scams Fraud
Real Estate - Renting a Foreclosed Home Leasing - Careers
The ongoing recession, coupled with rising unemployment, has put enormous pressure on American homeowners. Many have watched their equity dissipate for two years, often owing more on the mortgage than the property is worth. Many cannot obtain financing under the stricter credit guidelines. Many are unemployed, looking for work in a bleak job market and struggling to pay bills. Many are self-employed and can no longer access financing in the absence of ‘stated’ programs. May, 2009 posted the fourth highest foreclosure rate on record.
On June 17th, 2009 Eric Holder made a statement before the U.S. Senate Committee on the Judiciary regarding mortgage fraud, saying “As many Americans face the adverse effects of a devastating economy and an unstable housing market, the Administration announced a new coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams. These fraudulent activities threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times. The new effort aligns responses from federal law enforcement agencies, state investigators and prosecutors, civil enforcement authorities, and the private sector to protect homeowners seeking assistance under the Administration’s Making Home Affordable Program from criminals looking to perpetrate predatory schemes.The Department, in partnership with the U.S. Department of Treasury, the Department of Housing and Urban Development (HUD), the Federal Trade Commission (FTC) and the Attorney General of Illinois, will coordinate information and resources across agencies to maximize targeting and efficiency in fraud investigations, alert financial institutions to emerging schemes, and step up enforcement actions. As part of this multi-agency effort, the Department has outlined ways to crack down on mortgage fraud schemes. The FBI is investigating more than 2,500 mortgage fraud cases as of May 31, 2009. This number is up almost 400 percent from five years ago. The Bureau has more than doubled the number of agents investigating mortgage scams, created a National Mortgage Fraud Team at Headquarters, and is working hand-in-hand with other partnering agencies.”
Fraudulent schemes evolve over time. There are endless variations of the familiar scams as well as new scams emerging in response to market changes. With the incidence of fraud increasing, consumers need to be increasingly vigilent.
Ahorre Junio 22, 2009 09:24 AM Franquicia de Servicios de Limpieza | Comprar Casas | Vender Casas | Garantia de Prestamos | La Puntuación de Crédito | Robo de Identidad | Prestamos Hipotecarios | Rescate de Ejecución Hipotecaria | Tarjetas de Credito