Mr.
Schiff: The
FBI is very busy
investigating
Mortgage Fraud.
Special Agent
Brian Weber of
the FBI's Criminal
Investigative
Division knows...
Mr. Weber:
"One of the
new scams we're
seeing with the
large increase
in home foreclosures
is Home Foreclosure
Rescue Scams.
These involve
perpetrators basically
targeting homeowners
who are at risk
for default or
are already in
foreclosure."
Mr. Schiff: Weber
says homeowners
are talked into
believing they
can save their
home in exchange
for upfront fees
and deed transfers...
Mr. Weber:
"The perpetrator
ultimately transfers
the property into
his or her name
via a Quick Claim
Deed and promises
to make the mortgage
payments for the
homeowner."
Mr. Schiff:
Weber says it
doesn't happen.
The bad guys profit
by remortgaging
the property or
pocketing fees...
Mr. Weber:
"Ultimately,
and tragically,
the homeowners
are therefore
left with the
original home
mortgage not paid
off and the perpetrator
simply delayed
the foreclosure
of their home."
Mr.
Schiff:
Been a victim.
Call the FBI.
I'm Neal Schiff
of the Bureau
and that's what's
happening at the
"FBI, This
Week."
