Freddie Mac Video on Forclosure Fraud

Real Estate Agent with Keller Williams International Realty

I came across an article this morning on Rismedia, that addresses forclosure fraud and how the  scam artists are taking advantage with home owners in trouble. As realtors' and lenders, I believe the more information we can give our clients and non-clients the greater chance we have of building trust in a time where many are out to just make a quick buck at someones' expense.  Let's protect and build relationships.

 "Freddie Mac decided to produce the anti-fraud video for YouTube after a 2007 company-sponsored study that discovered that 25% of delinquent borrowers go to the Internet first for mortgage information, only slightly less than those who call their mortgage lender (28%) or bank (32%). Roper Public Affairs and Media, a division of GFK NOP conducted the survey of 2,400 borrowers."

The two-minute YouTube video uses professional actors to demonstrate how con artists can:

- Get copies of foreclosure notices at City Hall or a county courthouse;
- Persuade distressed borrowers to give up the deeds in exchange for
suspicious promises to solve their financial problems;
- Use the deeds to secure new loans for themselves; and,
- Let the new loans go into foreclosure, which means the homeowners looking for help can still end up losing their house.

We may have clients or people in our data base that would value from this information. Many of you may already have this information but for those of you who don't, I thought it important to pass it on.

You can go to to view the video and decide it's importance.


Debi Hillberg
Keller Williams Realty
Pasadena, CA







Comments (10)

Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Hi Debi,

Great post. I think that sooner or later the dishonest ones make it all that rougher for everyone.

Thats for the excellent read.


Tom Braatz

Dec 13, 2007 03:32 AM
Jeanette Hemmer
Coldwell Banker - Clarksville, AR


I had no idea this was actually going on.  Now that is just awful.

Jeanette Hemmer   Johnson County, Arkansas

Dec 13, 2007 03:34 AM
Rosario Lewis
DDR Realty - Newburgh, NY
GRI, SRES - DDR Realty - Orange County, NY
That's a nice informative little video. I hope it helps a lot of people avoid the scammers.
Dec 13, 2007 03:40 AM
Candy Henthorne
Results Realty - Spring, TX
Spring Texas Real Estate
Debi - This is horrible. It amazes me how people that do these kind of things can sleep at night.
Dec 13, 2007 04:07 AM
Ken Cook
Content, coding, marketing, host. - Marietta, GA
Content Marketer/Creator
Equity stripping is a HUGE problem. It gets back to ONE THING: NEVER sign a Quit Claim Deed without the permission of your FIRST MORTGAGE HOLDER. NEVER.
Dec 13, 2007 04:30 AM
Debi Hillberg
Keller Williams International Realty - Monrovia, CA
Monrovia, Ca
Ken, that is great advice. Thanks for your response.
Dec 13, 2007 04:32 AM
Debi Hillberg
Keller Williams International Realty - Monrovia, CA
Monrovia, Ca

Candy, It's amazing  and the elderly are usually the targets but with forclosure's affecting so many age groups, and people are desperate, they will involve themselves with people that look and sound credible. Ken has good advice in his response, get permission from your first mortgage holder.

thanks for your comment

Dec 13, 2007 04:37 AM
Irina Netchaev
Pasadena Views Real Estate Team, Inc. - Pasadena, CA
Pasadena CA Real Estate
Debi, a great "heads up" for all.  Thanks for sharing!
Dec 16, 2007 05:13 AM
Paul Gapski
Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA
619-504-8999,#1 Resource SD Relo

yes they look so nice but Foreclosures are such tough on to stomach.

Sep 09, 2011 05:46 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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