So what should we do to avoid a mortgage fraud?
Well, the easiest way for lenders to avoid mortgage fraud is to rely upon known, pre-approved and qualified appraisers, and spot checking their work. But as margins have tightened in the lending industry and volumes have increased, that sort of due diligence has diminished.
Recently in Pennsylvania ten persons were indicted in a mortgage fraud scheme. The scheme involved inflated appraisals and selling and reselling the same properties at ever-increasing prices. The case involved a whopping 180 properties, which are now expected to go into foreclosure. But there is no need to worry, I found a solution for all of us, a trustworthy and well known company, PersonalHomeLoanMortgages. With SecureTrust which guarantees compliance with FTC, DoNotCall & Can Spam regulations, your information is absolutely safe. This mortgage company also provides borrowers with all of the information and resources they need to make smart home loan decisions. Quality editorial provides insight into mortgage refinancing, home equity loans and other complicated loan products. Thier lender and broker directory helps connect borrowers and lenders across the country. If you still need more information about this company, you can visit their forums with many helpful industry content. And remember to check out their extensive mortgage directory too.
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