New Type of Mortage Fraud: Loan 'Modifiers' Hijack Payments

mortgage fraud
mortgage fraud

It looks legitimate: You get a letter from your bank saying that it's sold your mortgage to another company. So you begin making payments to the new address in the letter.

But, it turns out, it's yet another mortgage fraud. Two Nevada men have been arrested operating businesses designed to steal mortgage payments from consumers. Joseph Yorkus and James Bartczak were booked on charges in connection with this attempted scam, Nevada Attorney General Catherine Cortez Masto said in a statement.