Occupancy Fraud Generally occurs when a borrower states on a mortgage application that he or she intends to occupy a realestate as a primary residence to secure a lower interest rate when the borrower actually intends to obtain the mortgage to acquire an investment land. Identifying and Avoiding Mortgage Fraud FRAUD FOR PROFIT Equity Skimming and Cash-Back Schemes A straw buyer is typically implemented as the buyer of the realestate due to his or her creditworthiness and resulting ability to obtain favorable financing. Mortgage fraud has now become so prevalent that [...]
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