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Mortgage fraud by borrowers from US Department of the Treasury [7]. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above.
As an example of Cox’s juggling act, the townhouse at 2960 Coconut Ave. has had four contracts on it, three presently, with deposits ranging from $500,000 in 2020 to $1.52 million in January ...
In law, fraud is an intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law or criminal law, or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. [1]
The Home Equity Theft Prevention Act (HETPA, NY RPL §265-a) is a New York State law passed on July 26, 2006, to provide homeowners of residential property with information and disclosures in order to make informed decisions when approached by persons seeking a sale or transfer of the homeowner's property, particularly when homeowners are in default on their mortgage payments or the property ...
Real estate fraud is more common than you might think. According to the FBI, 9,521 people were victims of real estate cybercrimes in 2023. Discover More: 8 Places Where Houses Are Suddenly Major...
A buyer who has entered into a contract with a seller who wants to back out should consult a real estate attorney. If the buyer wants to take the case to court, they may have grounds to sue the ...
When property prices are in decline, the practice of gazumping becomes rare. The term 'gazundering' has been coined for the opposite practice, whereby the buyer waits until everybody is poised to exchange contracts before lowering the offer on the property, threatening the collapse of a whole chain of house sales waiting for the deal to go through.
The Yazoo land scandal, Yazoo fraud, Yazoo land fraud, or Yazoo land controversy was a massive real-estate fraud perpetrated, in the mid-1790s, by Georgia governor George Mathews [1] and the Georgia General Assembly. Georgia politicians sold large tracts of territory in the Yazoo lands, in what are now portions of the present-day states of ...