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 Mortgage fraud is the most common form of financial fraud. It's also the type of fraud that's most likely to be reported, as it's a crime that affects more people than other kinds of scams.

Mortgage fraud happens when someone uses false information or fraudulent documents to obtain a mortgage or sell property. The false information can be used to obtain credit, such as a loan, or to get title insurance or other insurance policies, such as homeowner's insurance.

Here are some common signs that you might be a victim of mortgage fraud:

Your lender tells you something different than what is on your application or in the property record. For example, your lender may say that you own the house when you really don't; or say that there are no liens on the property when there actually are liens against it.

You receive counterfeit checks made out to yourself or others. These checks usually have forged signatures and may be cashed at convenience stores and gas stations.

Someone takes out multiple loans on the same home and then defaults on them all at once — called "bulk lending." This means that there is no way for lenders or property records to determine whether these loans were fraudulent because all documentation was removed from

 With the housing market in a tailspin, it's no surprise that mortgage fraud has reached record levels. But what can you do to avoid being a victim?

First, be aware of your rights. Most states have laws that protect you against fraud and abuse on your mortgage. If you suspect your loan application has been tampered with, contact your state's attorney general or consumer protection agency immediately.

Second, make sure you understand your loan documents. Read through everything carefully before signing anything — especially if there's any language that seems vague or ambiguous. That way, if there are any problems with the documents, you'll know exactly what needs to be fixed and who needs to fix it.

Third, check out legitimate businesses and financial institutions before deciding on one for your loan.

Mortgage fraud is the term used to describe an illegal scheme to obtain a mortgage payment by misrepresenting your income or assets, or by lying about your credit history. Most mortgage fraud schemes involve individuals who have been denied a loan by a legitimate lender, but are able to convince another lender to lend them money.

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