• United States



by Paul Kerstein

Mortgage Fraud Sweeping Chicago’s Poor Communities

Nov 07, 20051 min
CSO and CISOData and Information Security

Mortgage fraud has increased in Chicago’s poorest neighborhoods overthe past five years. An Associated Press article reports that the scam is popular with gangs.The scam works when people buy cheap buildings or con owners intoapplying for large mortgage loans and then disappear when they get thecash. Since 2000, The Chicago Tribune identified 524 Cook County homesinvolved in fraud cases and they were located in low-income andminority neighborhoods. Read more.