The Problem: Mortgage and real estate fraud is becoming the most profitable of all organized criminal acts. The real estate business is a web of inter-dependent parties including the buyers, sellers, mortgage brokers, banks, appraisers, housing inspectors and real estate agents. A combination of two to four of these parties conspiring to “fudge and flip” a transaction can result in hundreds and thousands of dollars lost to all parties not involved in the scam. In one scam alone, 51 homes together valued at $300 million were discovered. Once the scam is realized, the finger pointing begins between the scam artists.
The Solution: Prevent this from happening under your watch. Become informed. Know your options and what to look for. There are often tell-tale signals, red flags that pop up from the very beginning of most transactions. Upon understanding the nature of the crime, a professional will be able to pro-actively protect themselves and their clients.
- The Costs and Impact of Fraud.
- Who’s Doing It?
- How Are They Doing It?
- Different Types of Fraud.
- Where Are The Hotspots?
- What Are the Red Flags?
- Know Your Rights.
- Know What You Are Signing.
- Protect Your Business And Your Clients.
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