Ohio is one of the top states for mortgage fraud as indicate in an FBI report. Honest good old Mid Western State of Ohio is caught in the mix of fraudulent mortgages that is rampant in coastal states California and Florida.
It shows that when easy money is involved, everyone is involved.
http://www.bizjournals.com/dayton/stories/2009/07/06/daily34.html
When homeowners are face tough times and choices, it is easy for unscrupulous firms to take advantage of honest working people. These firms work under the guise of companies who are suppose to help patrons from losing their homes to foreclosure, and renegotiate with mortgage companies. Instead, clients end up losing their homes and become financially worse then before.
http://www.kansascity.com/news/breaking_news/story/1311458.html
Mortgage fraud is a pretty serious crime considering so much money is involved in these transactions. Learn the terminology and the type of scams involved in defrauding borrowers and lenders, home buyers and sellers alike.
The FBI created a national team in December just to handle this type of crime.
http://www.nj.com/business/index.ssf/2009/07/mortgage_fraud_has_many_guises.html
Homebuilder Beazer Homes pay out $53 million to settle US Department of Justice lawsuit on mortgage fraud. Beazer Homes will avoid further media attention, possible criminal prosecution and jail time by not allowing the lawsuit to make its appearance in court .