I was discussing with my husband that mortgage fraud is now considered the white collar crime. He began asking me what type of mortgage fraud is happening. I started sharing with him how home appraisals are being inflated. Then once the consumer is ready to move they find out the home is less in value than what they were originally told. Second is inflated incomes knowing the consumer did not qualify for the house. They broke or lender did this just to get them in the house. Once again this turns the “American Dream” into a nightmare. I cannot stress enough for consumers to be cautious before signing on the dotted line.
