SHORT SALES AND MORTGAGE FRAUD

According to CoreLogic, mortgage fraud is on the rise again, with over $12 billion in fraudulent originations this year. Corelogic attributes this to high levels of unemployment, combined with low mortgage rates, incentivizing homeowners to misrepresent their employment status on loan applications. It’s a sad truth, but a truth nonetheless and we wanted to share this because it’s a sign that employment is still the remaining issue, and the main reason why we are seeing an increase in properties that need be sold as a short sale. As long as unemployment remains high, we will need good specialists to sell short sales for us.