Review of Mortgage Fraud Scams XIV

We've discussed this topic before and at some point I know we will discuss it again.  Mortgage fraud is too pervasive and too important to be limited to a one-time only round.  As stated earlier in this thread, mortgage fraud almost brought down the U.S. economy in 2008.  For most people, houses are the single most important purchase they will ever make in their lives. 

      As with all white-collar crimes, the most important factor in determining whether a criminal act has occurred in intent.  Was there an intent to defraud someone or some organization?  Remember the example we gave in the last post - there is a huge difference between "flipping" a house by buying a house that is in need of repairs, fixing up the house and reselling it vs. conspiring with a group of people to deliberately undervalue the purchase price of a house buy the house for the undervalued price and then resell it.  The word "flipping" applies to both practices, but there is a vast difference in the intent between the two.

     There is always much more to discuss regarding mortgage fraud, but we will leave it at this point for now.

NOTE: THE INFORMATION IN THIS BLOG IS NOT LEGAL ADVICE NOR IS IT INTENDED TO BE LEGAL ADVICE.  IF THE READER HAS ANY LEGAL QUESTIONS, PLEASE REFER TO AN ATTORNEY.

                                             

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