Traditional mortgage fraud includes situations in which homebuyers and/or lenders falsify information to obtain a home loan. Homebuyers should never sign mortgage documents that have incomplete or inaccurate information.
Mortgage Rescue and Loan Modification Scams: Many so-called foreclosure rescue companies or foreclosure assistance firms claim they can help struggling homeowners save their home from foreclosure. Some are brazen enough to offer a money-back guarantee. Unfortunately, most of these foreclosure fraudsters take your money and run.
Reverse Mortgage Scams: Reverse mortgages can be useful products, but have been associated with deceptive practices and allegations of high-pressure sales tactics and the risk of being steered into inappropriate loans and annuities.
FINRA Investor Education Foundation, SaveAndInvest.org and National Center for Victims of CrimeThis guide is designed to assist victim advocates by providing information on financial fraud generally, as well as action steps that can be taken after an individual has been the victim of fraud.