FBI: Downturn brings mortgage-rescue, HELOC fraud schemes

California, Florida, Georgia lead states for mortgage fraud

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With more homeowners facing the possibility of foreclosure, the FBI says mortgage fraud schemes are targeting homeowners seeking financial guidance, and exploiting the home-equity-line-of-credit application process.

The FBI’s latest report on mortgage fraud identifies the top 10 states for mortgage fraud as California, Florida, Georgia, Illinois, Indiana, Michigan, New York, Ohio, Texas and Utah.