Greenville Mortgage Fraud Practices
Greenville online has reported that there may be an element of fraud in at least 20% of foreclosures. The South Carolina Mortgage Fraud hotline is getting a large number of calls on a daily basis. The statistics listed on foreclosure rates by Greenville online show that 1 of every 621 homes in South Carolina are being foreclosed. The loans that were granted for these properties were not properly investigated. Borrowers overstating their income and mortgage brokers assisting with the fraud will be facing a federal indictment in the coming year. The United States Attorney for South Carolina and the Federal Bureau of Investigation (FBI) are taking these cases to grand juries for indictments.
The FBI has stated taht the repackaging of mortgages will also be a target of their investigation. This includes the secondary sale of mortgages. It is even more difficult for the secondary buyer to spot the fraud.
The FBI listed South Carolina as one of the top 10 states for mortgage fraud. With such a small population in South Carolina, this could mean there is even more fraud here than in the other 9 states. Anyone under investigation for mortgage fraud needs to contact an attorney as soon as possible. Any statement or document produced for investigators could be used by the government as evidence of a mortgage fraud indicment.
We have South Carolina criminal defense attorneys to assist in defending any mortgage fraud indictment. Our Charleston criminal defense attorneys are able to assist in any federal indictment. We also have attorneys in myrtle beach and Miami beach.
