Mortgage fraud is the misrepresentation or omission of facts in the process of obtaining a loan for the purpose of financial gain. It covers a large range and many types of criminal actions and its effect reaches all of us eventually as can now be seen through the foreclosure crisis and plummeting housing prices. Unfortunately with the weakness of the current economy, mortgage fraud is on the increase as people become more desperate to regain their former lifestyles. It can occur from both sides of a mortgage transaction – borrower and lender.
Read this article:What is Mortgage Fraud?
