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Forensic Mortgage Analysis Scam – Beware

Consumers are urged to be on the lookout for companies promising forensic mortgage analysis services.

It’s an offer many struggling homeowners can find hard to resist. It begins with a flyer or phone call from a company offering to review your financial documents in order to find a dramatically lower mortgage rate. But the problem is, it often is an offer that is too good to be true.

Richard Hagar works at American Home Appraisals and does fraud profiling for government agencies. He says the latest scam snaring homeowners are companies or individuals offering a ‘forensic mortgage analysis.’ While there may be an occasional legitimate business offering the service, he believes most are not. “It’s with the rise of foreclosures that people see a new business/scam opportunity” he says.

Hagar says many of these companies are based in California, Nevada, or Florida, with a fair number popping up in Oregon, too. They are areas with high numbers of foreclosures, meaning more people desperate to save their homes. – Source


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Steve Rhode

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