Mortgage fraud is a fact of life that too many unsuspecting buyers fall victim to. Though it’s impossible to quantify accurately the scope of the problem, the U.S. Federal Bureau of Investigation estimated losses from fraudulent mortgage data reached $10 billion in 2010. A Real Estate Agent in Denver will always educate you on ways to avoid becoming a victim.

Top mortgage scams to avoid

Protect yourself and your loved ones by avoiding these mortgage “scams.”

1. real estate school denver teaches about “Equity Stripping” or “Bailout,” where a con artist steps in to “rescue” a homeowner by helping him get rid of his house. The scammer cons the homeowner into surrendering the title to the home by promising to let him stay as a renter then buy the property back when his finances improve. In the end, the homeowner who’s said “I want to Sell my home in Denver” can’t