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ITRC Solution 28
Mortgage Identity Theft

In general, mortgage identity theft occurs when the individual whose information is being used is NOT party to the financial negotiations or contract. It is a federal crime to misrepresent any information in connection with a loan application. There are two types of mortgage identity theft this ITRC Solution addresses.

How can homeowners prevent identity thieves from stealing their property?
FBI officials suggest the following:

How to clear your name from a fraudulent mortgage:

Under the Fair Debt Collection Practices Act, the lender or collection agency must stop all collection activity during the investigation. They cannot sell, trade, give away, donate, or loan this account to another entity.

Keep a record of everyone you speak to over the phone. In addition, keep all paperwork you receive and make copies of everything you send out.

For more information, contact an ITRC Victim Advisor toll free at 1-888-400-5530 to guide you through the more specific steps needed in your case.

National Resources for Reporting Mortgage Fraud and Scams:
The Federal Bureau of Investigation (FBI)
http://www.fbi.gov/
(202) 324-3000 – National FBI Financial Institution Fraud Unit

Mortgage Fraud Hotline 1-800-4FRAUD8 (1-800-437-2838)

 

This solution sheet should not be used in lieu of legal advice. Any requests to reproduce this material, other than by individual victims for their own use, should be directed toThis email address is being protected from spambots. You need JavaScript enabled to view it..