Monday, November 2, 2009

Fraud Watch for Homeowners

Posted By Pete Hill

MORTGAGE fraud continues to expand, in both the number of incidents and the methods that criminals use to strip equity from homeowners and lenders. Now a new online service offers free help to keep homeowners safe from an emerging form of fraud known as “house theft.”

Like other real estate Web sites, this new service, called, provides informal home appraisals and other information to help track neighborhood real estate activity. But unlike the others, it also monitors public documents associated with a home and promises to alert homeowners to possible criminal activity, like a forged deed that purports to transfer a home’s title in order to release an existing mortgage.

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