Wednesday, July 09, 2008

Scary fraud story

Here's a very interesting article from this week's issue of our Fraud and Compliance newsletter.

http://www.nationalmortgagenews.com/fraud/stories/?storyid=20080708c.htm

It's about flipping in a specific zip code in Atlanta and one paragraph is particularly chilling as it documents the many times one residence has been flipped in the last few years. The author then talks about how the widespread fraud is making it difficult to determine the actual value of the house, which is currently owned by a lender.

It's well worth a careful read. And if you like you can subscribe to the newsletter, which is free and comes out once a week on Wednesdays. The link to subscribe is free. http://www.nationalmortgagenews.com/fraud/newsletter/

Labels:

0 Comments:

Post a Comment

<< Home