Mortgage Fraud Soars Amid Foreclosure Listings (Home foreclosures)
and as they implement stricter processes and more requirements for loan applicants, incidents of loan fraud have started to increase. foreclosure
Foreclosed homes in neighborhoods in Saint Petersburg have put Florida among the top three in rankings of foreclosures by state. In 2008, Florida was second in foreclosures by state with 385,309 residential properties with foreclosure filings, according to foreclosure tracking firm RealtyTrac. It also had the second highest foreclosure rate, with 4.5 percent of residential properties in default. foreclosure
In Florida’s Cape Coral area, real estate broker Marc Joseph has been holding boat tours to show foreclosed homes to potential homebuyers and investors. The city, located in Lee County, has more than 400 miles of passable waterways and has longer canals than any other city in the world. foreclosure
Tags: Area Real Estate, Boat Tours, Canals, Cape Coral, Foreclosure Homes, Foreclosure Listings, Home Foreclosures, Homebuyers, Investors, Lee County, Loan Applicants, Loan Fraud, Marc Joseph, Mortgage Foreclosure, Mortgage Fraud, Real Estate Broker, Residential Properties, Saint Petersburg, Soars, Waterways