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Mortgage Fraud Rising - watch out for Foreclosure rescue schemes

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The property listing on various real estate portal looks like a dream property such as ideal location, has perfect and beautiful photos and is well below your financial budget. You send off an enquiry and get a speedy reaction from real estate agents: the landowner is right now abroad and can't demonstrate to you the home. But if you can make online transfer some amount as a deposit as soon as possible, the property is yours.

Lenders in Massachusetts allegedly favor letting properties end up as bank or Fannie Mae foreclosure properties rather than unload them in short sales. According to analysts, the reason could be fears of fraud common in short sales.

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