Grant Trevithick discusses ways to catch mortgage fraud when selling or buying your home.
Grant here to discuss a very serious item... mortgage fraud. Mortgage fraud is a serious crime that can have a number of negative consequences for both borrowers and lenders. It is important to be aware of the most common ways that mortgage fraud is committed so that you can protect yourself from becoming a victim. Due the complexities of todays real estate market and the challenges the many people have been experiencing in both selling and buying a home it seems like the right time to remind everyone of these basic rules of the road. Here are the main ways that mortgage fraud is committed in all markets. False Statements One of the most common ways that mortgage fraud is committed is by making false or misleading statements on a mortgage application. This can include things like lying about your income, assets, or debts. For example, you might lie about your income in order to qualify for a larger loan, or you might lie about your debts in order to make it appear that you are mo...