As odd as it may sound, a man was convicted of selling homes in Birmingham, Alabama that were not his property to sell. Darryl Cobb, 54, was caught running a mortgage fraud scheme.  Unfortunately, Cobb is not the only person guilty of committing mortgage fraud in the United States. A Mortgage Fraud Task Force has developed recently to help catch and prosecute the criminals who are taking advantage of hard-working and financially strapped Americans.

Additionally, mortgage fraud deteriorates an already suffering business—real estate. The effects are felt locally, throughout the state, and across the country. While individuals such as Cobb have taken a personal stake in fraud, it’s the scary truth that buyers, sellers, brokers, real estate agents, appraisers, and lenders can all commit various levels of mortgage fraud.

Several past rings have been thwarted as well, such as Timothy Johnson’s fraud rings that involved the illegal deals on 40 real estate transactions that resulted in bank payments of $2.5 million to Johnson through false paperwork.

The Birmingham movers want to make sure that you protect yourself when selling or purchasing a new home, in the Birmingham area or anywhere throughout our great nation. Visit the website StopFraud.gov to learn more about the task force dedicated to handling mortgage fraud and the necessary precautions you should take to protect yourself and your family.