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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.
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∙ 14y ago
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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 are some types of mortgage fraud?
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.
Is it legal to transfer a new mortgage into someone else's name?
There is a lot of legal mumbo-jumbo surrounding mortgages - but if the intent was to conceal the actual applicant's identity or to commit fraud, the answer is, no. You can't transfer a mortgage tpso someone else without the mortgagor's approval anyway.
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.
What are the legal rights of a cosigner on a mortgage?
legal rights of cosigner on mortgage
Why do banks prefer legal mortgage to equitable mortgage?
Equitable mortgages are legal.
What is the Legal framework for mortgage in Nigeria?
what is the legal frame work for mortgage of land in nigeria
I am wondering what is the definition of a reverse mortgage?
The definition of reverse mortgage is when the bank takes out a loan based on your property. This is used for extending your mortgage beyond what it is now.
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.
What is a polestar by legal definition?
There is no legal definition for pole star.There is no legal definition for pole star.There is no legal definition for pole star.There is no legal definition for pole star.
Is Paternity fraud illegal in Arizona?
By definition fraud, of any kind, is illegal.
When a person convey their rights to a property can they sue for the property later on?
No. Not unless they can prove fraud, legal incapacity or duress in a lawsuit, and win.No. Not unless they can prove fraud, legal incapacity or duress in a lawsuit, and win.No. Not unless they can prove fraud, legal incapacity or duress in a lawsuit, and win.No. Not unless they can prove fraud, legal incapacity or duress in a lawsuit, and win.
