Freddie Mac has just released a news item regarding Short Payoff Fraud. Plainly stated, if you purchase a property at a discount and the lender must accept a short payoff, but you already have a new purchaser under contract and do not disclose that purchase transaction to the shorted lender, they consider that fraud.
Here is a link to the news on the Freddie Mac website:
http://www.freddiemac.com/singlefamily/news/2010/0412_payoff_fraud.html
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