Serving & Protecting Senior Citizens
Seniors and Law Enforcement Together
The purpose of Milton Township S.A.L.T. Council is to determine and to meet the needs of Senior Citizens by reducing crime
and abuse and by enhancing safety through communication and education in cooperation with the Township, law
enforcement agencies, and other community agencies and organizations.
Coordinated by S.A.L.T. Chairman Ken McNatt
Home Mortgage Scams
(continued on page 2)
Submitted by James Loftus
etective James Loftus, from the Chicago
Police Financial Crimes Unit, gave an informative
presentation to the S.A.L.T. Council about the
local mortgage fraud that is occurring in the
Chicago and suburban areas.
We have all seen the news with stories about
seniors, single women or low-income people
who have lost their homes to mortgage scams
or fraudulent companies who have taken their
money and in many cases their homes.
Unfortunately, we all have to be extra cautious
and aware of “whom” we are dealing with today.
The growth of mortgage fraud has increased
over 300% in the past 12 months. It is a federal
offense. It is the largest growing financial fraud
Mortgage Fraud Economics:
q Target properties with high equity/value.
q Exploits common practices within the real
q Violates the
q Criminals will
target seniors with
no mortgages or
people who have
liens on their
If a crime has been committed, contact a civil
attorney and the local police. They will put out a
q For security reasons, put your house in a “Land
Trust.” This will help deter the crime.
When selling your home, know the following
q What does a Title Company do?
q Who attends each closing?
q Where does the money come from?
q Who is responsible if fraud is committed?
Tools of the crime…Beware of the following
when closing on a home mortgage:
q Forged signatures on deeds
q Counterfeit identifications
q Counterfeit W-2’s