FBI estimates $4-$6 billion in mortgage fraud losses
Even with all that has happened with the real estate market over the past few years, mortgage fraud is still an ongoing problem in this country. The FBI is involved with investigating mortgage fraud and has a mortgage fraud page set up that lists recent statistics pertaining to mortgage fraud in this country.
Listed on the FBI page are the States with significant mortgage fraud problems in 2008:
1. Rhode Island
2. Florida
3. Illinois
4. Georgia
5. Maryland
6. New York
7. Michigan
8. California
9. Missouri
10. Colorado
Sometimes those who would get you involved with mortgage fraud make it appear innocent and legal. You may hear them say, “we do this all of the time” or “everyone knows what is going on”. The bottom line is if you feel like someone or something is trying to get you to break the law, walk away.