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Closing Real Estate in Chicago: Mortgage Fraud Incidents up 45

Closing Real Estate in Chicago: Mortgage Fraud Incidents up 45

This is a discussion on Closing Real Estate in Chicago: Mortgage Fraud Incidents up 45 within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Reported incidents of bmortgage/b fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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12-04-2008, 10:25 PM

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Closing Real Estate in Chicago: Mortgage Fraud Incidents up 45 ...

Reported incidents of bmortgage/b fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers misstated their financial information to maneuver around tighter lending standards, industry data released b.../b

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chicago, closing, estate, fraud, incidents, mortgage, real

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