Mortgage fraud on the rise
The housing market might be lethargic, but mortgage fraud is vigorous.
The FBI has just released a major report on mortgage fraud in the U.S., chock with tables, statistics and information on how mortgage fraud is perpetrated.
The bad news is that in 2007 Michigan ranked third among all states for incidence of mortgage fraud, which was particularly prevalent in the Detroit area. The good news is that Michigan ranked third in the 2006 too, but the bad news is that mortgage fraud was more common in Michigan and nationwide last year.
The FBI report can be found by clicking here.