Mortgage Fraud
Sep 21st, 2007 by abr
Georgia’s Mortgage Fraud Law
Greg Dunn outlines a few of the many ways an unsuspecting real estate agent can become involved in mortgage fraud with fines up to $100,000 and jail time up to 20 years.
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Recently I reported a man that committed loan fraud. He used an FHA loan with down payment assistance (Ameri-Dream I believe), the house was rented when he bought it from his girl friend and to this day, 9 months later, it is still rented. I reported this to FHA, HUD, Georgia Department of Bank and Finance, The FBI and Wells Fargo. NOTHING was done I was told this was only a $98,000.00 Loan and not worth the time. How funny is that.
Jeff Owen
PS - He bought the house as an owner occupied property, even says this on his security deed.