real estate fraud: Robert Shumake, Fraud Victim, Speaks about Mortgage Fraud - 06/07/09 05:20 AM
Robert Shumake's desire is to generate Public Awareness on how to avoid being a victim of mortgage fraudDetroit, MI - The US Federal Bureau of Investigation reports that mortgage fraud is one of the fastest growing white-collar crimes in the United States.  Robert Shumake learned this the hard way, when he purchased property in Detroit.  Robert described the ordeal he suffered when he was the victim of mortgage fraud.
 
When Robert Shumake tried to sell a house that he purchased and rehabbed; hefound out that someone had "stolen" the property and removed his name from the title with a fraudulent … (1 comments)

real estate fraud: Dr. Robert Shumake, Mortgage Fraud Victim, talks about Real Estate Fraud in Michigan - 06/07/09 05:18 AM
Robert Shumake explains the growing trend in mortgage fraud schemes and real estate scams
 
Detroit, MI - Robert Shumake is the CEO of Inheritance Capital Group, a Michigan based private equity real estate investment and development firm managing a large portfolio of commercial and residential real estate.  An experienced realtor with over 20 years experience in the field, Mr. Shumake was a victim of mortgage fraud.
 
During a recent interview, Robert Shumake explained how the downward trend in the real estate market has encouraged mortgage fraud and the development of many fraudulent schemes.  The rising rates in foreclosures along … (0 comments)

real estate fraud: Robert Shumake Reveals Mortgage Fraud Schemes in Michigan - 06/07/09 05:17 AM
Michigan is one of the top ten states for Mortgage Fraud and Real Estate Scams
  
Detroit, MI - The downturn in the economy and the drop in real estate values have put pressure on lenders to write mortgages and builders and real estate agents to sell homes.  Robert Shumake was recently interviewed and he explained, "Fewer loans are originated as lending practices tighten in response to the subprime lending crisis," said Shumake.  "Identity theft is a popular tool used in mortgage fraud.  With higher lending standards being enforced, individuals with good credit are valuable to perpetrators; therefore, at risk for … (0 comments)

real estate fraud: Robert Shumake is on a Mission to Stamp out Mortgage Fraud in Michigan, one of the Top 10 States - 03/27/09 10:45 PM
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
 
Detroit, MI - Many reports on real estate and mortgage fraud have been released in the last few years.   Robert Shumake, an experienced real estate developer was a victim of mortgage fraud.  When he tried to sell a house that he purchased and fixed up, he found out that someone had "stolen" the property and removed his name form the title with a fraudulent quit claim deed!  It took … (2 comments)

real estate fraud: Robert Shumake, Mortgage Fraud Victim, Warns Property Managers and Home Buyers - 03/26/09 11:51 AM
Robert provides 10 tips to protect yourself from Mortgage Fraud
 
Detroit, MI - Mortgage fraud is one of the fastest growing white-collar crimes in the country, with Michigan being one of the top 10 locations for real estate scams.  Robert Shumake recently spoke at a real estate investors meeting.  "The downward trend in the real estate market has encouraged mortgage fraud perpetrators to develop and utilize many schemes," said Shumake.  "the recent rise in foreclosures along with a depressed market, declining values and decreased demand has put pressure on lenders, builders and home sellers."
 
Shumake explained why lending practices … (0 comments)

real estate fraud: Robert Shumake Addresses Real Estate Scams and Mortgage Fraud in Michigan - 03/15/09 09:01 AM
An interview with Robert Shumake reveals the cause of the growing trend in mortgage fraud schemes
 
Detroit, MI - 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 the decreased demand has placed pressure on lenders, builders and home sellers.  "Fewer loans will be originated as lending practices tighten in response to the subprime lending crisis," said Shumake.  "Identity theft is a popular tool used in mortgage fraud.  With higher lending standards being enforced, individuals with good … (0 comments)

real estate fraud: Robert Shumake Discusses the Growing Trend in Real Estate Scams and Mortgage Fraud in Michigan - 03/15/09 09:00 AM
Illegal Property Flipping, Builder-Bailout Schemes, Foreclosure Rescue Scams and Short Sale Scams are common in today's market
 
Detroit, MI - Robert Shumake, mortgage fraud victim, is working to increase public awareness of the problem and to warn realtors, lenders and consumers of scams that they can easily fall victim to.  Robert said, "Escalating foreclosures have provided the opportunity for scammers who claim to be foreclosure help consultants.  They convince homeowners that they can help them save their homes from foreclosure as they trick them into signing a quit claim deed.  If the home has a lot of equity, the scammer … (1 comments)

real estate fraud: Robert Shumake Speaks on Real Estate Investing and what to do avoid Mortgage Fraud - 03/15/09 08:58 AM
Robert Shumake, Mortgage Fraud Victim, Generates Public Awareness; what to do to avoid being a victim of Mortgage FraudDetroit, MI - The US Federal Bureau of Investigation claims mortgage fraud is one of the fastest growing white-collar crimes in the United States.  Robert Shumake learned this the hard way, when he purchased property in Detroit.  He never dreamed he would be the victim of mortgage fraud.Robert Shumake went to sell a house that he purchased and rehabbed; he found out that someone had "stolen" the property and removed his name from the title with a fraudulent quit claim deed! The new … (0 comments)

real estate fraud: About REITs: Real Estate Investment Trusts - 01/24/09 07:36 AM
Real Estate Investment Trusts (REITs) were created in the 60s so that all investors would have access to income-producing real estate through the purchase and sale of liquid securities.  Before REITs were created access to investment returns of commercial real estate equity was only available to institutions and wealthy individuals.
For over half a century, REITs have become an important part of the United States economy and investment markets.  United States REITs have grown from ninety billion dollars to over three hundred billion dollars in the past decade and they have gained popularity all over the world.
During their early years, … (0 comments)

real estate fraud: Mortgage Fraud Report: Michigan is among the Top 10 States - 12/30/08 07:30 AM
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.  Fraud for property or housing involves misrepresentations by the applicant for the purpose of purchasing a primary residence.  Although applicants may claim more income and less for expenses in order to qualify for the loan, they usually do intend to repay the debt.
 
Fraud for profit often involves multiple loans and elaborate schemes generated … (0 comments)

real estate fraud: Robert Shumake Fraud Report: Mortgage and Real Estate Scams - 12/30/08 07:20 AM
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 loans will be originated as lending practices tighten in response to the subprime lending crisis.  Identity theft is a popular tool for use in mortgage fraud.  With higher lending standards being enforced, individuals with good credit are valuable to perpetrators; therefore, at risk for identity theft and mortgage fraud schemes.
 
Illegal Property Flipping
 
Illegal flipping … (0 comments)

real estate fraud: Robert Shumake Mortgage Fraud Alert: Predatory Lenders in Michigan - 12/30/08 07:17 AM
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.
 
Predatory lenders are not out to help the borrower at all; they are only in it for themselves.  They are often using their clients in order to gain commissions.  A predatory lender looks for clients who have little knowledge and prior experience with mortgages.  They will take their application, check their credit, and … (0 comments)

 

Robert Shumake

Southfield, MI

More about me…

Inheritance Capital Group, LLC

Office: (248) 443-0939



Links

Archives

RSS 2.0 Feed for this blog