2006-06-14 01:45:01 · 4 answers · asked by agray7501 1 in Business & Finance ➔ Personal Finance
I'm sure there are different kinds, but the one that's prominent at present is where a couple of people conspire to cause a property value to be exaggerated and then they buy the property using someone else's ID and the mortgage co., gives them the money to buy the house and they abscond with the money. The person whose ID was used has been known to get stuck with the bill....I watched W5 or some such tv show in Canada about it.
2006-06-14 01:49:41 · answer #1 · answered by MillwoodsGal 6 · 2⤊ 2⤋
Using false information to obtain or retain a mortgage, or otherwise providing false information in the process of dealing with the mortgage that the company acts upon.
2006-06-14 01:49:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There was just an srticle on MSN yesterday about it. Try searching MSN Money, it'll probably pop up.
2006-06-14 01:54:46 · answer #3 · answered by nsgsurfer 3 · 0⤊ 0⤋
False information when borrowing money for housing and it is a felony if you get (when) you get caught.
2006-06-14 01:55:56 · answer #4 · answered by g3010 7 · 0⤊ 0⤋