Skip to main content

Are you a legal professional? Visit our professional site

Please enter a legal issue and/or a location
Begin typing to search, use arrow keys to navigate, use enter to select

Find a Lawyer

More Options

FBI: Mortgage Fraud on the Rise

By Admin on May 14, 2008 8:23 AM

Mortgage fraud is on the rise in the U.S., with the Federal Bureau of Investigation (FBI) receiving more than 46,000 "Suspicious Activity Reports" involving mortgage fraud in 2007 -- compared to 35,617 reports in 2006, and 6,936 in 2003.

The FBI's 2007 Mortgage Fraud Report contains detailed information on data and trends related to mortgage fraud, which can include false appraisal scams, foreclosure rescue fraud, "builder-bailout" schemes, and identity thefts in which home equity credit lines are opened and drained. The FBI expects current downward trends in the housing market to give "further incentive for shady real estate industry insiders to look for dishonest ways to turn a profit and growing opportunities for scam artists to prey on vulnerable homeowners." The FBI's warnings on mortgage fraud come as U.S. home foreclosures reach record highs, according to the Wall Street Journal.

You Don’t Have To Solve This on Your Own – Get a Lawyer’s Help

Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.

Or contact an attorney near you:
Copied to clipboard