FBI: Mortgage fraud on the rise - Atlanta Business Chronicle:

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And both Atlanta and Georgia rank amon g the top 10 formortgager fraud. The FBI report says one measure of mortgage fraudx complaints is up 36 percent The report lists California and Florida as having the most mortgagw fraud schemes and scams in with Georgiain third. FBI field divisionws that ranked in the top 10 for pending investigationse in 2008 included theAtlanta division, which rankes seventh. In May, the reported that a record-highy 12.07 percent of U.S. mortgag e borrowers were either behind in theirt payments orfacing foreclosure.
The FBI reporg said mortgage scams on the rise include fraudulentfshort sales, bankruptcy filings and reverse mortgage schemes, modifications and sometimes arsonh to collect insurance Some of the fraud schemexs hurt consumers and borrowers while others hurt original according to the FBI report. The FBI also notedc some less reputable mortgage firms give the appearance to consumers they are government housintg agencies empowered by the BarackObama administration’s stimulus and mortgage rescuer programs. .