Question Details

Tj, Both Buyer and Seller in Dublin, OH

Falsifying lease agreement = Mortgage Fraud??

Asked by Tj, Dublin, OH Fri Nov 21, 2008

We have not been able to sell our house to purchase a brand new house. We are going through the builder's lender. The lender told us that we need to fill out a lease agreement & "pretend" that we have someone to lease our property so we will qualify for the new loan. The lender wants us to make up a renter & sign the documents. They claim it's not a "legal document". This sounds like mortgage fraud to me. Would this equate to mortgage fraud? The builder has our deposit & the lender says we "qualify" for the loan, but we are refusing to meet the conditions so we would not get our deposit back. What do we do?

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Answers

4
This is 100% fraud!

FHA will no longer allow you to use a lease to qualify. I am guessing this is one of the reasons! Demand your deposit back and if they give you a hard time, tell them you are going to the Department of Banking.
Web Reference: http://www.myallied.net
0 votes Thank Flag Link Sun Nov 23, 2008
Fast way: Call a local TV station's "investigative reporter" and see how fast you get your deposit back.

The right way: That is fraud and as a good citizen you should contact your state attorney general. It's this sort of thing that helped get us into the economic mess the country is now in.
0 votes Thank Flag Link Fri Nov 21, 2008
yes that is fraud!
Jim Cavoto
Web Reference: http://mortgageetc.info
0 votes Thank Flag Link Fri Nov 21, 2008
Follow your instincts. Get yourself a real estate attorney and see how fast you get your deposit back-or try to find a real tenant to rent your property.
0 votes Thank Flag Link Fri Nov 21, 2008
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