Housing fraud is alive and well.

Housing fraud encompasses a range of deceptive practices in real estate and housing-related transactions, often involving misrepresentation, theft, or manipulation for financial gain or to acquire or maintain property illegally. It can involve mortgage fraud, where individuals or industry insiders abuse the mortgage lending process, or fraud for housing, where borrowers misrepresent information to qualify for a loan or maintain ownership. Additionally, fraud can occur in public housing programs through false reporting of income, family size, or other eligibility factors. 

Types of Housing Fraud:

• Mortgage Fraud:.This includes both “fraud for profit” (typically involving industry insiders) and “fraud for housing” (where borrowers misrepresent information to obtain or keep a home). 
• Public Housing Fraud:.This involves applicants or tenants making false statements about their income, family size, or other eligibility requirements to gain access to or maintain benefits in public housing programs. 
• Section 8 Fraud:.This includes tenants subletting their units without authorization, failing to report income increases, or other violations of Section 8 program rules. 
• Rental and Housing Scams:.This encompasses a variety of deceptive practices, such as fake listings, inflated fees, and rental scams where individuals pose as landlords or property managers to steal money or personal information. 
• Loan Modification Scams:.Scammers may pose as financial advisors, offering to help homeowners facing foreclosure, but instead, they take fees for services that don’t deliver promised results or even steal funds. 

Who is Affected?

• Homebuyers and homeowners:Individuals seeking mortgages or struggling with mortgage payments can be targeted by mortgage fraud and loan modification scams. 

My recommendation is to get in touch with the housing authority in the city and state you live in and register your home with them. They will (OR SHOULD) notify you via text message, email, or both if any suspicious activity pops up on your property. This is a very serious problem and is getting worse by the day. This should be a FREE service in your community.

Be proactive and stay a jump ahead of the thieving bastards. Don’t wait to become one of their vitcims. All it takes is a few phone calls to play it safe.