Posts Tagged fraud

Mortgage Fraud: What Is It?

Saturday, September 12th, 2009

Mortgage FraudWhen you are dealing with Mortgage Fraud – it can be a difficult thing to really wrap your head around.  Personally, I had absolutely no idea what Mortgage Fraud even was until I started writing this blog.  What Mortgage Fraud is, is it is actually a term that is used to describe a broad variety of criminal acts where the person will misrepresent themselves on a mortgage loan.

The reason for this?  Well, it is so that the individual can actually get themselves some property and real estate.  They will lie on the applications for loans and get the loans with no intentions of paying them back.  In federal courts, Mortgage Fraud is actually prosecuted as wire fraud, bank fraud, mail fraud and money laundering.

People who commit Mortgage Fraud can actually get up to thirty years imprisonment – so it is certainly not something to mess around with.