Freddie Mac Issues Credit Scam Warning to Potential Homeowners

In an effort to raise awareness and encourage borrowers to make smart choices, Freddie Mac has issuing a warning to home buyers and lenders about three common fraud schemes aimed at falsely raising credit scores.

For many Americans with consumer credit negatively impacted by the housing crisis and fluctuating economy, it’s easy to be lured by the promise of a raised credit score.  Schemes that falsely raise credit scores will land borrowers in scalding hot water – as well as cost you time and money combating both origination- and servicing-related fraud.

You can read more about these three fraud schemes and what can be done to combat these types of fraud at: http://www.freddiemac.com/singlefamily/news/2015/1103_mortgage_fraud.html