Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Fannie Mae Sells Homes to Investors for $200 - Why Didn't They Sell them back to Families for Same Prices ?

 

On March 8, a San Diego company purchased a group of foreclosed Jacksonville homes from government-backed Fannie Mae, getting two for $200 each and another three for $1,000, $2,500 and $3,500.

Last fall, Dallas-based Harbour Portfolio VI purchased at least six foreclosed Jacksonville houses, also all on the same day. The price for two was as low as $2,400. One of the six, at 3046 Columbus Ave. on Jacksonville’s Northside, which sold for $14,700, stood vacant and wide open March 30. The knob on its front door had been jimmied off.

A couple had bought the home in 2007 for $98,000, but lost it to foreclosure three years later.

Read more at Jacksonville.com: http://jacksonville.com/business/2011-06-19/story/houses-200-foreclosure-bargain-not-you#ixzz1PplbUFxv

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