Some real estate agents have recommended the buyer and seller enter into a separate agreement for purchasing personal property, but apparently the lenders find this fraudulent. If you’re going to purchase a house or condo and you want the flat screen TV just add it to the addendum at the bottom of the purchase agreement and take you lumps with the loan qualification.

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Mortgage Fraud Blog - Perp Walk - 10 new articles for September 21, 2011


Posted on Sep 21, 2011

I'm attending the real estate brokers' class at the Iowa Association of Realtors and the teacher has just written a book on mortgage fraud. One thing she's made very clear is never to use two agreements to buy a house. Some real estate agents have recommended the buyer and seller enter into a separate agreement for purchasing personal property, but apparently the lenders find this fraudulent. If you're going to purchase a house or condo and you want the flat screen TV just add it to the addendum at the bottom of the purchase agreement and take you lumps with the loan qualification. 

Here are today's stories from the Mortgage Fraud Blog.

In This Issue...
Escrow Agent Sentenced for Stealing Funds
Branch Manager Charged with Mortgage Fraud
Real Estate Agent Sent to Prison for Defrauding Lenders
Guilty Plea Entered in DC Mortgage Fraud Case
Brokerage Owner Sentenced for Mortgage Fraud
Men Admit Big Rigging at Foreclosure Auctions
Loan Officer Sentenced for Fraud Scheme
2 Admit Real Estate Investment Fraud Scheme
Woman Charged for Straw Buyer Scheme
2 Indicted for $14 Million Mortgage Fraud Scheme
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For good advice see a lawyer and if you have questions about this blog, the law or your case write or call me directly. Steve Lombardi, sdlombardi@aol.com and 515-222-1110. I handle all types of personal injury cases including car accidents, truck accidents, motorcycle accidents, workers' compensation cases. We help truckers all across the country who come through Iowa and end up in an accident. If we need other lawyers from other states we hire them and it costs you no more than what you would pay us; in other words, we split the fee between us. So call 515-222-1110 or email us at sdlombardi@aol.com. 
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