Fraud Prevention Month: Protecting Against...

It’s Fraud Prevention Month, and it’s the perfect time to get educated on what mortgage fraud is, and how to protect yourself from it. Mortgage fraud is unfortunately an industry-wide problem and more common than you probably think (especially now). How do you identify mortgage fraud? Mortgage fraud is misrepresentation of information to help you obtain a mortgage, including: Inflating your income or misrepresenting your job Misrepresenting your income (stating you’re salaried, when you are contract, etc.) Not disclosing current debts and/or mortgage loans Inflating property value How can you protect yourself against mortgage fraud? Don’t sign a document that has any blanks in it,…