Mortgage scam wreaks havoc on credit
Why wiping fraudulent loans off record can be impossible
By Ilyce Glink, Tuesday, November 27, 2007.Q: I am a mortgage consultant in California working with a client in Colorado who was a victim of a "real estate fraud" scam back in 2003. The person facilitating the fraud has since been indicted for the crime with the help of my client's testimony and is serving 14 years in prison.
My question is this: Given she was a victim of a legitimate mortgage scam, what recourse can she take if the first and second mortgages of the home associated with the fraud are still on her credit report?
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