Due to the large number of homeowners that have and are losing their homes to foreclosure in Maryland, there is increased activity by real estate scammers who prey on individuals who have found themselves in desperate situations.
Scammers use the vulnerability of Maryland homeowners in foreclosure to take their equity and steal the title of their home which, subsequently, may leave them homeless and without choices.
Numerous scams have quickly surfaced in some of the hardest hit communities in Maryland, especially in counties like Prince George, Baltimore City and Montgomery, as all have experienced a high number of foreclosures. However, make no mistake about it, mortgage fraud is in every community, county, and municipality in our state. No one is safe.
Some of the scams that are emerging are centered around equity stripping, illegal and fraudulent deed conveyances, and fraud by real estate professionals, which includes, but is not limited to: Real Estate Agents, Loan Officers, Brokers, Appraisers, Lenders, Title Company’s and Attorney’s etc. Click our Law link to learn about what the State of Maryland considers Mortgage and Foreclosure fraud.
