Mortgage Fraud
There are 2 type of mortgage fraud.
- Fraud to get a property
- Fraud to make a profit
The first is were someone lies about facts to get a loan to buy a property.
The second is where someone lies about facts to make a profit.
Fraud is committed by falsifications in the following ways:
1. Loan application fraud. Where an applicant lies about their income or their job. Perhaps the down payment they are making was given to them by the person selling them the home and the value of the home inflated to cover it.
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