Reports of all mortgage fraud nationwide have tripled since 2003 to nearly 22,000 last year, the FBI said

RISMEDIA, July 20, 2006—(MCT)—His down payment was a beat-up car that wouldn’t shift into reverse.

His factory-made home had not been installed on his land, yet when he signed his first home loan, Frank Finn Jr. thought his family was getting a great deal. He borrowed $102,500, the cost of the land, home and installation. The appraisal showed his home in West Valley Estates, a community of factory-made homes, would be worth $130,000 — $55,700 above the ZIP code’s median house price. More…..

Reports of all mortgage fraud nationwide have tripled since 2003 to nearly 22,000 last year, the FBI said

RISMEDIA, July 20, 2006—(MCT)—His down payment was a beat-up car that wouldn’t shift into reverse.

His factory-made home had not been installed on his land, yet when he signed his first home loan, Frank Finn Jr. thought his family was getting a great deal. He borrowed $102,500, the cost of the land, home and installation. The appraisal showed his home in West Valley Estates, a community of factory-made homes, would be worth $130,000 — $55,700 above the ZIP code’s median house price. More…..