Miami-Dade Mayor Carlos Alvarez, announced yesterday that Miami-Dade County has formed a task force to investigate and prosecute mortgage fraud in the county. One need only look at the tax records to see that mortgage fraud has been an epidemic here for quite some time. The task force coincides with a state law making mortgage fraud a felony. Maybe some big arrests are just around the corner?
Recently, tax bills went out and many were stunned to see that in a declining market their property value actually went up. Mortgage fraud has certainly been a contributing factor to over-inflating sales prices and in turn, property assessments.
Hopefully, good things will come out of this task force. All I can say is…Welcome – we need all the help we can get!