Rachel Dollar is quoted in Investors.com, Property Fraud Booms, FBI Probes 2,500 Mortgage Cases.


Mortgage fraud keeps growing as foreclosures head to auction and banks agree to more short sales.

The FBI lists the top schemes as auction fraud and short-sale fraud called flopping. In auction fraud a group of investors agree not to bid against each other in order to obtain a property at below market value. In a flop an investor buys a short sale under market value with help from a corrupt real estate agent or appraiser and sells it to another buyer for a profit.

You can read the full article here:http://www.investors.com/news/real-estate/real-estate-fraud-up-amid-foreclosures/

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