Air Loan

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Dictionary Says

Definition of 'Air Loan'

A mortgage fraud scheme in which a mortgage broker invents a property and a borrower in order to earn profits on completed loan transactions by defrauding lenders. Since the borrower is not real, the broker may set up a system of phone banks and mailboxes that are used to "verify" the borrower’s employment, home address, credit history, and so on as well as the property’s title history and appraisal value.

Investopedia Says

Investopedia explains 'Air Loan'

When an air loan inevitably goes into default - since no one is paying the mortgage - the lending bank loses everything because the home they would normally foreclose on does not exist.

The air loan is just one type of mortgage fraud. Others include property flipping using inflated appraisals, silent second mortgages, straw buyers, foreclosure schemes and equity skimming.

Search results for

'Air Loan'

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    ... The most common industry professional mortgage fraud scams are the air
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    http://financialedge.investopedia.com/financial-edge/0310/7-air-travel-perks-that-used-to-be-free.aspx
    ... 7 Air Travel Perks That Used To Be Free. Posted:
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    ... The air travel industry in Canada has seen its share of such problems recently,
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  • An Introduction To The FHA 203(k) Loan

    http://www.investopedia.com/articles/mortgages-real-estate/10/introduction-fha-203-k-loan.asp
    ... and ventilation as well as using the correct size heating and air conditioning systems ...
    home repairs and improvements that can be financed with the 203(k) loan. ...

  • The Impact Of 9/11 On Business - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0911/The-Impact-of-September-11-on-Business.aspx
    ... The Impact on Air Travel In the August prior to 9/11, US air travel set
    a record high with 65.4 million passengers. Post-9/11 air ...

  • Why Europe Has The Cheapest Airfare - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0112/Why-Europe-Has-The-Cheapest-Airfare.aspx
    ... What makes European air travel less expensive? ... Because of the density of the
    population, air travel is fast and convenient for most Europeans. ...

  • 5 Economical Green Upgrades For Your Home - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0611/5-economical-green-upgrades-for-your-home.aspx
    ... However, they can make both your air conditioner and heat unit operate more
    efficiently. Ceiling fans circulate the air in the house ...

  • New Home Repair Troubleshooting

    http://www.investopedia.com/articles/mortgages-real-estate/10/new-home-repairs.asp
    ... If it doesn't, you could get the money back in electricity saved from having an
    air conditioner that functions properly. ... $30K Home Equity Loan, 5.74%, 5.75%. ...

  • Best Shopping Deals For February - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0212/Best-Shopping-Deals-For-February.aspx
    ... Air Conditioners With lower temperatures usually comes lower demand for air
    conditioners. However, if you've ever had an air conditioner ...

  • Water Cooler Finance: Goodbye 2010 (And Good Riddance?) ...

    http://financialedge.investopedia.com/financial-edge/0111/Water-Cooler-Finance-Goodbye-2010-And-Good-Riddance.aspx
    ... Good News for Air Travelers While air travelers may not begrudge the airlines a
    profit, most flyers aren't too happy that the profit has come at travelers ...

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