Mortgage fraud

Daniel Gutierrez

Mortgage fraud

CREATED Oct. 9, 2012

Hundreds have been charged in connection with a mortgage fraud scheme that targeted distressed homeowners causing more than a billion dollars in losses.

Attorney General Eric Holder says the year-long effort is aimed at those preying on people in danger of losing their homes to foreclosure. Foreclosures spiked during the recession due to the credit crisis, plummeting property values and unemployment. 

The government says some 73,000 homeowners nationwide fell victim to schemes, hoping to save their homes.