Schemes, Scams, Frauds.

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Some unscrupulous individuals have passed themselves off as owners of a house belonging to others ( particularly seniors ), have obtained mortgages, and stolen the funds.

Would taking out a home-equity line-of-credit serve as a first line of defense against this? My reasoning is that a given bank would not be ready to grant a mortgage on a property on which there is an existing (potential) lien.

B.R. 09/10/03

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