Mortgage fraud victim ends up losing her house
• Homeowners should NEVER pay any up-front fees for mortgage modification services and should avoid any high-pressure sales tactics. Fees may only be collected AFTER services are completed.
Tag: Mortgage Fraud
Mortgage fraud rises following recession
The aftermath of the recession has been blamed for a rise in mortgage fraud as well as other types of fraud across the financial services sector. A report by credit rating agency Experian shows that mortgage fraud attempts increased by 14 per cent to 32 in every 10,000 applications in 2010. First-party fraud, where an [...]
CQS to help combat mortgage fraud
Members of the new Conveyancing Quality Scheme (CQS) can play a part in tackling mortgage fraud in England and Wales, it has been claimed. According to the National Fraud Authority’s (NFA) annual fraud indicator, the cost of fraud in the UK stands at 38 billion, while the mortgage fraud element is estimated at 1 billion. [...]
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