Robert Shumake's (reitadvisor) Blog

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Services for Real Estate Pros - Inheritance Capital Group, LLC

ARCHIVED BLOG POSTS

2008 

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Mortgage fraud is defined as the intentional misrepresentation of information, by applicants, loan officers or other parties, which is relied on by an underwriter to provide funding for a mortgage loan.    Mortgage fraud is divided into two categories:  fraud for property and fraud for profit.  F...
12/30/2008
The downward trend in the real estate market has encouraged mortgage fraud perpetrators to develop and utilize many schemes.  The recent rise in foreclosures along with a depressed market, declining values and decreased demand has placed pressure on lenders, builders and home sellers.  Fewer loan...
12/30/2008
Predatory lenders are lenders who commit mortgage fraud to help homeowners get a higher loan.  They may obtain inflated appraisals, falsify income information or do whatever it takes to qualify the borrower for a mortgage.  In many cases, the borrower cannot afford the terms of the mortgage.   Pr...
12/30/2008
According to the US Federal Bureau of Investigation, mortgage fraud is one of the fastest growing white-collar crimes in the country.  Robert Shumake found this out the hard way, when he was the victim of mortgage fraud.   When Shumake tried to sell a house that he purchased and fixed up, he foun...
12/30/2008
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