A couple of years ago I wrote a post about Mortgage Fraud... and the dangers it can pose to sellers. It is a good read, and can clue you in about one of the ways you (as a seller) can get dragged into fraud... and then dragged off to jail. Be careful.
Now for a little story... Early in my career, the agent on the other side of a transaction from me asked me to prepare a second contract and increase the sales price. Even as a "newbie" I knew that what this "seasoned agent" was asking me to do was wrong. My broker agreed... The seller was fully insulated from the situation.
The problem is that the fraud evolves. As investigators and others recognize specific tactics, the tactics are changed. Many of them might seem to be almost logical... and the perpetrators may have a good story to spin. But at the base, it is still fraud.
Don't be afraid to ask your agent, you agent's broker or even local investigators questions. Better safe than sorry.
Related articles by Zemanta
- Lenders warned on mortgage fraud (telegraph.co.uk)
- Understanding Real Estate Fraud (newswire.ca)
- How to Avoid Mortgage Fraud (homeloans.org)
Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey.
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