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Mortgage And Real Estate Fraud Continues
Stephanie Reynolds has put together a great list of mortgage and real estate fraud resources for us here in California. Remember, if it sounds too good to be true, it's probably false.
Mortgage And Real Estate Fraud Continues
Reports of mortgage fraud; from appraisals being inflated to falsification of income documentation. Real Estate fraud; from straw buyers to short sale fraud. Foreclosure scams. Craigslist scams. Loan Modification scams. Investment scams.
California has ranked 3rd in the country for hardest hit states for mortgage fraud, according to MARI (Mortgage Asset Research Institute) preceded only by Florida and New York. San Diego alone from May 2009 to May 2010 reported 287 Real Estate Fraud cases being investigated.
I recently wrote a post about Loan Modification ~ Don't Be A Victim. But it is more than just loan modifications being affected. Promises to save your home from foreclosure, rent this beautiful home for $400 a month, no credit? No problem, we buy houses, cash!....the list goes on.
There are resources available if you or someone you know is a victim of one of fraud or one of these scams. All of the following offices want to stop this type of thing from happening, they just need your help in reporting ... more

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