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Description:
FBI arrests about 300 in U.S. mortgage fraud cases
Houston Chronicle, June 19, 2008
Mortgage-fraud roundup nets 400
Arkansas Democrat Gazzette, June 20, 2008
Five accused of mortgage fraud
Sacbee.com, June 29, 2008
Texas Court Shuts Down Real Estate Scam
Mortgage Fraud Blog, May 23, 2007
The headlines above are telling a story that's becoming a little too familiar. In fact, it's a story that appears daily in newspapers across the country. And it doesn't have a happy ending for most.
Mortgage fraud is a growing plague in the United States. The economic and emotional impact on the victims is devastating, and it's made all the worse by the fact that there are relatively few resources available to educate both the public and members of the real estate industry. Websites, such as the Mortgage Asset Research Institute (marisolutions.com) offer the consumer and the real estate agent tips and statistics, but what's missing is the human element.
All of recorded history started as one person telling a story to another. We human listeners, viewers and readers love a good story—it allows us to empathize with characters, to place ourselves in their shoes and learn the lessons of the tale almost as if it were happening to us directly. And so, to truly educate and inform, it becomes important to put a human face on every story. The experiences of one become the experiences of many.
The Author has a very human story to tell. It's about the trust of a mentor/mentee relationship. It's about betrayal. It is a story about the loss of a career as well as the respect of his peers, and the impact of fraud on himself and his family and friends. The author's story is about facing an inadvertent mistake and the ensuing adversity and challenges, and it's about picking up the pieces to forge a new life for himself and his family. Finally, as the smoke has begun to clear on his own personal battle, the author is able to look out and see a war-torn world around him. And he wants to help.
"Mortgage fraud is on the rise. According to the FBI, the number of fraud cases worked in 2006 increased by nearly 64% from 2005. In 54% of these cases, the fraud losses exceeded $1,000,000."
Mortgage Asset Research Institute (www.marisolutions.com)
A visit to any book store will reveal that there are numerous books on the topic of fraud. Most are "how-to" guides to avoiding it or dealing with it after the fact. They read like textbooks—dry, disconnected, uninteresting. While business professionals, such as members of the real estate community, may be willing to read them and be informed many consumers will not. At least, not until after fraud has already impacted their lives.
What we propose is to tell a story—a cautionary tale—in a way that is enlightening, informative and engrossing. It will have it's foundation in two vital principles: research and experience. The Author's story will be told as a personal narrative of the events surrounding his experience with mortgage fraud and the chaos that his life became after, and it will be supplemented and strengthened by examples of contracts and forms, commentary on avoiding pitfalls, and advice from experts in the field.
It will be more than a manual. It will be the bible for anyone who wants to learn about and avoid mortgage fraud, told in a dramatic and entertaining style that engages the reader and impassions and empowers them toward action.
The author's motivation is to tell his story honestly, and to motivate and inspire others. He wants to make an impact on the real estate community and the American public, and be a part of a force for change.
This book has a built-in audience—a great advantage for any work. Those who are in the real estate industry will immediately see the value of having a mentor to guide them through the perils and pitfalls and tell them how to spot and avoid mortgage fraud. Beyond this immediate audience, however, the book will have a much broader appeal. By telling an engrossing and dramatic story, the book will be embraced by the public and, hopefully, be the first spark that ignites a fire for change in our nation.
Attached to this treatment are copies of the articles mentioned above, as well as our proposal for writing this book. We're sure you'll agree that there is a great demand for a book of this nature, and that the author is in a unique position to tell this moving tale.