Real estate fraud investigations require a commitment of time and resources by a team of agencies. Investigators can identify the hierarchy of the coconspirators; confirm the documented false statements; discover the flow of the profits; and proceed with the interviewing of the participants, beginning with the least culpable and working toward the primary subjects. Successfully investigating and prosecuting real estate fraud cases is essential due to its devastating impact on communities across the United States. Law enforcement agencies must work jointly to bring the perpetrators to justice and establish a deterrent against additional fraudulent activity in the future. The increasing number of real estate foreclosures has become a significant financial issue negatively impacting the national economy. Though most homeowners legitimately purchased their residences, a significant number of people were perpetrators of a criminal conspiracy frequently involving real estate professionals and speculators, mortgage brokers, appraisers, and title companies. Their actions helped create a market with artificially inflated home prices, increasing the potential for values to decline and foreclosures to increase. Individuals become involved in real estate fraud to obtain a residence to live in or to profit financially. This criminal activity has impacted communities nationwide and victimized everyone. This article discusses the extent of this serious problem and what law enforcement agencies must do to effectively respond to this type of fraudulent activity. 2 notes