Crackdown on mortgage-elimination scams

Federal investigators are watching closely

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Federal and state investigators are targeting schemes that claim to erase a homeowner’s mortgage debt through creative paperwork. What some of these business models don’t advertise is that their programs can put consumers at risk of foreclosure and even fraud.

Dubbed “mortgage elimination,” the schemes have caught the eye of the FBI, which has been working with the title industry to snare those firms that are taking advantage of unsuspecting homeowners, Inman News has learned.

Dwight Bickel, a lawyer for LandAmerica Financial Group, Inc.