Don’t be a victim of mortgage fraud

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Anyone can be a victim of financial fraud. Research consistently shows that victims come from all education levels and socio-economic backgrounds. There is no single profile of a victim of financial fraud, and there is no level of intelligence that can prevent a person from being victimized. Everyone is at risk.

Victims of identity theft have two primary options to protect themselves from further fraud: a credit freeze or a fraud alert. Both options make it harder for someone else to open a new account in.

Months or weeks before applying for a mortgage, check your own credit reports. correct any errors, such as: Accounts listed on your report that don’t belong to you. Often this is mistaken identity;.

Homeowner receives deed after mortgage fraud  · The article Don’t Be a Victim of Fraud: 9 Simple Ways to Protect Your Financial Data originally appeared on Fool.com. MyBankTracker has no.

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Mortgage fraud. The FBI defines mortgage fraud as "the material misstatement, misrepresentation or omission relating to the property or potential mortgage relied on by an underwriter or lender to fund, purchase or insure a loan." Mortgage fraud often targets banks and other lenders that offer mortgage loans to consumers and businesses.

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The criminals take those mortgage funds, never make payments and the honest owners of the home don’t find out about the fraud until way after the mortgage is in arrears. This leaves the victims exposed to legal action from a lender they never even met and causes lenders to spend more time and money on fraud prevention procedures.

Student loan scams play on election buzz Amy Nofziger of the AARP Fraud Watch Network said its consumer helpline continues to receive several complaints relating to student loan debt relief. In some.

This is the second in a two part series about mortgage fraud, how it occurs, the damage it causes and what you can do to protect yourself. Read on for more information on how you can stop mortgage fraud through identity theft and what to do if you have been a victim.

Finally, make sure you never sign anything you don’t understand and only inquire about a reverse mortgage with a reputable reverse mortgage lender you have thoroughly researched on your own. Steer clear of mortgage fraud. At the end of the day, it’s crucial to ensure you don’t play any role – perpetrator or victim – in mortgage fraud.