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There are many types of mortgage fraud. One of the most common is not putting correct information on the mortgage application such as current income.
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∙ 10y ago
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What is the legal definition of mortgage fraud?
Mortgage fraud is the deliberate omission or misrepresentation of facts on the part of either the borrower or lender with the purpose of obtaining a mortgage loan. Mortgage fraud is essentially the intentional misrepresentation by either the borrower or the lending institution to enable the awarding of a loan. Examples of mortgage fraud include income misrepresentation, and misrepresentation of property use.
Why is mortgage fraud not portrayed in the media?
mortgage fraud isn't really portrayed in the media beause its not something that occurs very often in the area of housing.
Who would I call to find an attorney related to mortgage fraud?
Your best solution to find an attorney to assist with accusations of mortgage fraud would be to consult with a HUD approved housing counseling agency.
Is not making mortgage payment considered fraud?
No. fraud, in the legal sense, is to deliberately mislead in order to benefit at another's expense.
What types of home loans are there?
There are a couple of types of home loans available. Some of those types include FHA loans, Fixed-Rate Mortgage loans, VA loans, and Interest-Only Mortgage loans.
What is passive fraud in real estate?
Mortgage Broker defrauded your income. Form1003
If you default on your home mortgage can the mortgage company come after your car?
They can not directly come after your car. However a Judge can order assets seized. If there was no fraud involved in the mortgage this is an unlikely situation.
What are some of the different types of mortgage loans?
There are many different types of mortgage loans that are available for the average consumer. One can get fixed rate loans, adjustable loans, and governments guaranteed loans.
Where should one go for a mortgage loan?
One should go to a mortgage broker in order to obtain a mortgage loan. In addition, some mortgage brokers may also deal with other specialized types of loans.
What types of services does a morgtage business provide?
A mortgage business or mortgage company helps to provide loans to many individuals or businesses. Some of these types of loans include home and auto loans. QuickenLoans and LendingTree are two of the top mortgage loan companies.
What company took over mortgage payments from Countrywide?
Bank of America too over payments from Countrywide after the mortgage fraud by Countrywide. The mortgage settlement should send billions of dollars to struggling homeowners.
What is the statute of limitations for mortgage fraud?
The statute of limitations for mortgage fraud was increased to 10 years.
