Investigations by the US Federal Bureau of claim mortgage fraud is one of the fastest growing white-collar crimes in the United States. Robert Shumake learned this the hard way, when he purchases property in Detroit. Only in his dreams was he to be the victim of mortgage fraud.
Robert Shumake went to sell a house that he purchased and rehabbed, he found out that someone had “stolen” the property and removed his name from the title with a fraudulent quit claim deed! The new owner had moved into the home and took out building permits to work on the property.
Shumake had no idea it would take him two and half years and nearly $60,000 in legal fees to resolve the matter. Mortgage fraud is hard to prove with signed agreements and documents in place and recorded. It is possible to spend thousands of dollars and still not get your property back.
The sad part is that almost anyone can be a victim of mortgage fraud, even a real estate industry professional like Shumake, who is the owner of Inheritance Capital Group in Southfield, Michigan. Mr.Shumake’s company manages and develops real estate. Robert Shumake experience led him to join with Michigan state officials to launch a mortgage fraud task force to aid victims of mortgage fraud and promote consumer awareness and prevention.
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