FBI Issues 2009 Mortgage Fraud Report
Mortgage fraud is on the rise according to the latest FBI report. The crime jumped 5% from 2008 to 2009. The exact total dollar loss attributed to mortgage fraud for 2009 isn't known but it's estimated to have cost $14 billion.
Other key findings presented in the report include:
--2.8 million properties with foreclosure filings-- up 120% from 2007 to 2009
--The top 10 states ranked by the number of foreclosure filings per housing unit were: California, Florida, Arizona, Michigan, Nevada, Georgia, Ohio, Texas, and New Jersey
--In April 2010, one in every 386 housing units received a foreclosure filing.
The entire report is available on the FBI's website:
2009 FBI Mortgage Fraud Report
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