Oct
01
mortgage broker’s application fraud?
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I purchased a house for investment and had already a lease for the property, I understand the interest rate was higher because of it.
my tenents stop paying and did not want to move out, I was unable to pay mortgage but asked the bank for extansion which they didn’t approve. I tried to sell the house but no luck so it got foreclosed. A year later now I got a mortgage insurance invastigator asking me questions regarding my loan application, I found there is a lot of faulse info. that I didn’t provide but unfortunatly didn’t pay attantion signing it since my lawyer looked at it. they are basically blaming the broker and want to go after him but how is that gonne effect me? Can they go after me too?
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2 Comments
October 23rd, 2009 at 5:49 pm
I guess so. There is a reason that you have to sign forms. They may talk to you as if they are on your side so that you will incriminate the broker and they will perhaps talk to him as if they are on his side so he can incriminate you.
In the end they are wanting to get their money back from whoever they can.
October 26th, 2009 at 4:53 am
good question but you did not state when it was done and what program it was done under. there may have been fraud and then again several years back there were stated income programs as well as no documentation at all. If you supplied the answers to the broker and then signed the application as being true then yes they can come after you