The increasing number of real estate foreclosures

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Real Estate Fraud: A Reprint from “FBI Law Enforcement Bulletin”

The increasing number of real estate foreclosures

Our Price: $10.00

By Daniel Bradley (au)
Year: 2008
Pages: 4
Binding Paperback

Product Code: 1437909256

Description

The increasing number of real estate foreclosures has become a significant financial issue negatively impacting the national economy. Most of the homeowners legitimately purchased their residences with adjustable rate mortgages (ARMs). Believing that their home values would rise, the buyers expected to refinance if necessary. However, a significant number of people were not innocent bystanders but perpetrators of a criminal conspiracy frequently involving real estate professionals and speculators, mortgage brokers, appraisers, and title companies. The actions of these individuals largely helped create a market with artificially inflated home prices, increasing the potential for values to decline and foreclosures to increase. This criminal activity has impacted communities nationwide and victimized. This essay discusses how a combined response by fed., state, and local enforcement can punish the perpetrators and deter this activity in the future. Illus.

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