Indeed FRAUD is an ugly word and most people would steer clear from it if they know what to look for. Mortgage and real estate fraud schemes are clever and many unsuspecting people looking for help get roped in.
Elderly looking to get cash flow from a reverse mortgage, short sale fraud, people getting money from others for down payment and not disclosing it to the lender or people buying homes for unqualified borrowers.
Some of these schemes to an average everyday citizen may seem harmless but they aren't. Arm yourself,your family, friends and your clients with the facts. Here is a guide from Fannie Mae about popular fraud schemes, red flags for detecting fraud schemes and what to do. Remember if it sounds too good to be true it probably is.