The definition of loan fraud is simple. According to the F.B.I. loan fraud is any material misstatement, misrepresentation or omission relied upon by a mortgage underwriter or lender to fund a loan.
The definition does not make any exception for white lies, half truths, fibs or creative facts. It says any material misstatement, misrepresentation or omission. In most cases if you are involved in a real estate loan transaction, as a borrower, real estate agent, attorney or some other party, and you have to ask yourself or someone else “Is that loan fraud?” 95% of the time the answer is “yes.” Continue reading
Our office has received the 2010 All Star Award from Constant Contact®, Inc., the trusted marketing advisor to more than 400,000 small organizations worldwide. Our office is one of Constant Contact’s 2010 top performers and most prolific user of its … Continue reading
YOUR FIRST HOME. Purchasing one is a rite of passage that most non-homeowners dream of. Besides the intangible benefits, homeownership lets you build equity, and is the single biggest tax break available to most consumers. Here’s our look at some smart strategies for getting in the door. Tips Continue reading
In Massachusetts an estate of homestead protects a homeowner’s primary residence from the claims of certain creditors. Prior to the change in the law the declaration of homestead protected the equity in the home for up to $500,000 of its … Continue reading
Turmoil in Libya and Middle East countries may send oil prices up and affect mortgage rates. If investors fear that rising oil prices will derail an emerging recovery, they will remove their money from stocks and put it into safer … Continue reading
30-Year Fixed-Rate Mortgage Drops for Third Consecutive Week Continue reading