How is foreclosure fraud committed?

Foreclosure fraud is a white collar crime that involves the intentional misrepresentation and/or concealment of facts in regards to a foreclosure process in order to financially benefit the perpetrator. In California, there are many ways in which foreclosure fraud is committed. One of the most common types of foreclosure fraud is deed theft. This is when someone obtains ownership of a property without the consent of the rightful owner by using a forged or fake deed. This is done by impersonating the owner or by taking advantage of mortgage financing and paperwork errors. Another form of foreclosure fraud in California is loan flipping. This is when a dishonest real estate investor approaches a homeowner who is facing foreclosure and offers to purchase the property. The investor then attempts to resell the home at a much higher price, often receiving a large profit from the sale. Foreclosure fraud can also involve unlicensed counselors. Unlicensed counselors may offer desperate homeowners “help” to save their home, collecting money from the homeowner for services that are either nonexistent or fraudulent. Finally, foreclosure fraud may be committed through the use of power of attorney fraud. Here, a third-party is granted legal authority to represent the homeowner by signing power of attorney documents, allowing them to act as if they are the Homeowner when in reality they are not. Foreclosure fraud is a serious white collar crime that affects homeowners in California and across the country. If someone suspects they are a victim of foreclosure fraud, it is important to contact law enforcement or a legal professional who specializes in white collar crime.

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How is foreclosure fraud committed?

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