Freddie Mac alerts real estate agents to rising short sale fraud

There is a property I want to possibly purchase and I know that it was just foreclosed on. I found a copy of the Sheriff’s Deed and it states: "GRANT, SELL AND CONVEY unto U.S. Bank National Association, as Trustee, successor in interest to Bank of America, National Association, as Trustee, successor by merger to LaSalle Bank National Association, as Trustee for Structured Asset Investment.

Let’s try to answer these questions based on what has happened in the past as well as what we know about the current real estate market. The Impact of Rising Interest Rates. We. Freddie Mac’s comments were very direct:. home prices will be determined by the demand to purchase compared to the available inventory of homes for sale. For.

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Ten things you need to know about buying or selling a home After staying put during the economic recession, you might be tempted by stabilizing real estate prices and low. mortgages sold to Fannie.

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Three charged in real estate fraud scheme. activity and five counts of communications fraud, all second-degree felonies.. for the "short sale" of real estate and did not comply with "arm’s.

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According to a member of Freddie Mac’s Fraud Investigation Unit, a slight variation of our general definition of mortgage fraud also defines short payoff fraud – "Any misrepresentation or deliberate omission of fact that would induce the lender, investor or insurer to agree to the terms of a short payoff that it would not approve had all.

Short sales and foreclosures equally degrade FICO scores According to National Mortgage e-Alert, Short Sales, Foreclosures or Deed in lieu, does not make any difference. FICO treats them the same way for purposes of reducing the credit score. However, the higher your starting score, the more dramatic the effect. If the initial credit score is about 780, the drop would be 90 -. More »

  Housing Bubble 2018 - Is There Going To Be a Housing Market Crash? By contrast, a good real estate agent uses current market data and comparable sales information to get a number much closer to what a real person is likely to offer for your property. Feel free to ask your agent to explain the process and the data used in your case.

By concealing the higher offer, short sale fraud worsens losses to home sellers, Freddie Mac, and taxpayers. It also throws another wrench into the housing recovery by undermining the trust and transparency at the core of any real estate transaction. Today, short sale fraud is the top priority for our fraud investigation unit.