a typical cheating method to get loan.

liaoyu03 · Joined: 09 Sep 2007 Posts: 198 7.29 Dollars($)

I think this is a typical cheating by . in our state, a house actually has two house property certificates . the one belong to the house owner ,the other belong to the land agent .
the house owner don't realize there is the other house property certificates belonging to her house since she want to obtain the loan by mortgage her house.
then, a police and a banker come and told the woman that the house developer had used the land agent certificates of 18 houses and accessfully applied for a loan with the house property certificate several years . now, the house property hadn't repay the loans. so they were doing a investigate. the woman was faced with being refused by the bank. Does your state happened analogous cases? I think this is a infrequent case. but maybe you know more case like this. Very Happy

livinginnky · Posted: Sun Sep 16, 2007 9:40 pm Post subject:

Yes it does happen and fortunately when they are caught they will end up in prison. The unfortunate part is the home owner usually gets the short end of the stick.

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Liaoyu,

Welcome to the forum.

If it was a rental agreement, then it would have been possible for two people occupying a property - one is the owner and the other is the renter. In absence of any such contract, it is not possible for two people occupying the property title. In this situation, I think the woman should immediately contact an attorney. He will be able to help her to come out of the situation.

Guest 0.10 Dollars($)

This type of loan fraud is not infrequent. One of my friends faced with a different kind of loan fraud. He purchased his new house. But two days prior to closing, the mortgage company asked for the loan documents showing his house as being rental property. I feel it's simply a fraud.

Guest 0.10 Dollars($)

Cheaters never win! This says fraud all over it. If you entertain such a deal chances are you will end up in prison

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