The housing market has been improving significantly for nearly a year at this point, but with those upticks in activity …
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mortgage fraud
Do you work in the financial sector and is your company breaking consumer laws? The U.S. government’s new consumer …
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A company that falsely claimed it could help homeowners avoid foreclosure—and charged up to $2,500 for the phantom service—must repay …
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It’s a scam that marries mortgage fraud, tax fraud and identity theft. And it could land a number of tax …
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The Los Angeles Times reports that as early as 2004, the FBI accurately forecast the consequences of unscrupulous lending practices left unchecked. Unfortunately, despite the agency’s assurances that it was combating the problem, its focus on “national security and other priorities” left white collar crimes a secondary priority.
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A few minutes of internet research has turned up the official real estate website for Henry Aguilar. A quick Who Is search revealed that dcoreinc.com is registered in Aguilar’s name. Aguilar is current suspected of posing as a real estate broker in order to steal more than $120,000 from unsuspecting clients.
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This seductive pitch resulted in several arrests in Florida in connection with a mortgage fraud scheme. An investigation dubbed “Operation Green Acres” uncovered a scam in which 24 “straw buyers” were recruited from Miami and Naples to “purchase” Big Sun Valley houses in the Ocala area. Most of the straw buyers did not speak, read or write English or had a very limited English vocabulary.
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Abraham Lincoln was the first of four presidents who worked as a credit reporting correspondent for Dun & Bradstreet. Before the information age, credit reporting was conducted by sending agents to investigate a business or a business owner in person. Abraham Lincoln was well know for sending back detailed and humorous reports. “Of one of them, he described a grocer in his home town of Springfield, Illinois as possessing a rat hole in his shop that ‘would bear looking into.’”
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All good things must come to an end, right? As we approach what looks like the end of the housing bubble, new fraudsters have moved in to take advantage of the housing price surges. According to the FBI, mortgage fraud reports filed by lenders alone have increased 600% since 1999. These con artists take advantage of lending loopholes to take money from unsuspecting consumers and lead them to foreclosure.
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