Mortgage Fraud

Mortgage Fraud has become a huge problem for Realtors®, Home Builders and all Sellers of Real Estate. Individual Homeowners can become victims or even unwilling accomplices in mortgage fraud transactions. Georgia enacted a very strict law designed to combat mortgage fraud in 2005, when Georgia had the highest number of occurrences of mortgage fraud in the nation. In 2006, Georgia has fallen to third place, but all individuals and professionals involved in any real estate transaction need to be especially vigilant about every aspect of every single transaction.

Coldwell Banker American Land Mart is a strong supporter of the efforts of law enforcement to fight mortgage fraud and has cooperated with the U.S Department of Justice and other agencies to identify and report the perpetrators of mortgage fraud. Several arrests have been made and when the details surrounding each case become public record, those details will be posted here.

Homeowners who are considering selling their home would benefit from reviewing the major indicators of mortgage fraud and the penalties associated with participating in a fraudulent real estate transaction. Please view those indicators at the website devoted to stopping mortgage fraud. Click here http://www.stopmortgagefraud.com/signs.htm

Homeowners, Builders and Realtors® should know that it is the policy of this company to report all instances of mortgage fraud to the Georgia Bureau of Investigation, the Federal Bureau of Investigation and the U.S Attorney’s Office. This will likely result in a fraudulent transaction being cancelled and legitimate transactions being delayed, but this company will do everything possible to prevent any legitimate business partner of Coldwell Banker American Land Mart from participating in a fraudulent transaction.

August 9, 2006