December 6th, 2007
FBI report on Mortgage Fraud
With soaring foreclosure reports many imagine families on the street, couches on the curb and the other sad images of home foreclosure. Seems that many foreclosed homeowners may not have ever existed.
This FBI Report suggests that many foreclosures are being made on straw buyers - and the foreclosures are on properties that were never truly purchased by homeowners.
http://www.fbi.gov/publications/fraud/mortgage_fraud06.htm
Filed under: Sub-prime Meltdown
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