What does fraud mean to you? Way back (10 months ago) when I first started speaking up about mortgage fraud, I looked up the definition in my dictionary. I published this definition in my letter dated 10/07/05.
Fraud = Intentional deception to cause a person to give up money. Something said or done to deceive.
People are all over the map with the way they use the word fraud. A recent example:
"If it wasn't FHA, it would be fraud" said John Head, a Denver lawyer who represents victims of mortgage-fraud schemes.
This was published in the Denver Post, 08/24/06, front page article: Foreclosing on the American dream - part of an occasional series.
My theory: everyone starts with the bedrock principle that fraud cannot include anything "I" have ever done. Fraud - by definition - is limited to something "the other guy" has done, but never me.
Philip G Rice
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