According to the Honolulu Advertiser article, the combination of lax standards coupled with the high cost of living in Hawaii have led an increase in bogus mortgage schemes. In fact, Hawaii is outpacing the majority of Mainland markets that deal with similar mortgage fraud schemes.
Monday, June 30, 2008
Rising Mortgage Fraud in Hawaii
The 808housing blog points out that mortgage fraud on the islands is even higher than on the U.S. mainland.