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In this article, the writer explains and discusses mortgage fraud. The writer looks at title fraud that is committed through the use of false or stolen documents in order to obtain a mortgage. The writer also discusses another type of mortgage fraud in which the value of a property is elevated in order to receive more funds as mortgage.
From the Paper:"Mortgage and title fraud is a fraud committed in which fraudsters employ stolen or faked documents to pose as the owner of a property and/or to transfer a property into their name behind the back of the real owner. Then a mortgage is placed on the property, and the fraudster disappears with the mortgage money, leaving the real owner facing the mortgage fees. Another way in which this may arise is "value" mortgage fraud when fraudsters legally buy a property, but then "inflate" its value through a series of resales through "straw buyers", and then secure a mortgage based on the fraudulent elevated amount."
Cite this Analytical Essay:
Mortgage Fraud (2006, December 01) Retrieved March 04, 2024, from https://www.academon.com/analytical-essay/mortgage-fraud-130595/
"Mortgage Fraud" 01 December 2006. Web. 04 March. 2024. <https://www.academon.com/analytical-essay/mortgage-fraud-130595/>