So, while we all can be angry at the mortgage and banking companies that helped to get us into the mess we are now in, private citizens also helped to create the credit and mortgage crisis.
Six Broward County individuals, along with a Palm Beach County resident were indicted today on charges of mortgage fraud. One of the indicted had recruited the other individuals to pose as home buyers to acquire loans from various lenders. They provided false and inaccurate information to the lenders for these loans. These loans added up to $10 million towards local properties.
This recent incident is added to over 100 individuals indicted over the past year for mortgage and loan fraud. Florida apparently has the highest rate of mortgage fraud in the country!
