Home disinterestedness curve of acclaim are more acceptable targets of character thieves, according to the FBI's anniversary mortgage artifice report.
"Stolen chump identification is getting acclimated to accommodation home disinterestedness band of acclaim (HELOC) accounts," the FBI reports.
Posing as homeowners, identity thieves apply for and establish home equity lines of credit in the victim's name.
They will then draw from those HELOC accounts and wire funds to their own accounts.
The FBI report said the "downward trend in the housing market provides an ideal climate for mortgage fraud perpetrators to employ a myriad of schemes suitable to a down market."
People are encouraged to check their credit reports regularly to look for potential identity theft, especially when it can put their homes in jeopardy.
The FBI has agents focused on mortgage fraud in 32 field divisions, including Phoenix.
Reported by: Dan Siegel
"Stolen chump identification is getting acclimated to accommodation home disinterestedness band of acclaim (HELOC) accounts," the FBI reports.
Posing as homeowners, identity thieves apply for and establish home equity lines of credit in the victim's name.
They will then draw from those HELOC accounts and wire funds to their own accounts.
The FBI report said the "downward trend in the housing market provides an ideal climate for mortgage fraud perpetrators to employ a myriad of schemes suitable to a down market."
People are encouraged to check their credit reports regularly to look for potential identity theft, especially when it can put their homes in jeopardy.
The FBI has agents focused on mortgage fraud in 32 field divisions, including Phoenix.
Reported by: Dan Siegel
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