Answer Key
Mortgage – Comprehension Check
- A straw buyer is [a person who makes a purchase on behalf of another person]
- In the builder bailout fraud, the lender [is made to believe there is equity in the property]
- What does the article name as the chief mortgage related fraud? [a scam targetting old people]
- A rip-off is another word for [a theft]
- If you make something more affordable, it looks like it is [not so expensive]
- Con artists are [fraudsters]
- A short-sale fraud is [a trick on the lender]
- An unwitting victim is someone who [does not realize they are engineering their own downfall]
- A fraud where con artists pretend to be members of or exploit their membership in a particular religious, ethnic or professional group is called [affinity fraud]
- Reverse mortgages are good for seniors who [need extra money during retirement]