How can I stop this? i rent on a property, i have knowledge that the owner has committed insurance fraud and mortgage fraud.

Asked by Karen Quilla, Pasadena, CA Wed May 15, 2013

He is trying to short sale it in an arms length transaction now with a kick back from this friend of 200,000 after that, he damaged the house badly before the back appraiser came to see it. I cannot get anyone to respond to me at bank of america. i do not want to see him get away with this and walk with that money. he has never made a payment but collects rent from everyone, the middle house is rented and is not habitable. the city would kick them out but i cant get anyhwhere. can someone help with this?

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3
Charles Irv…, Agent, Los Angeles, CA
Wed May 15, 2013
Hello Karen,
Mortgage Fraud and Insurance Fraud are very serious charges that should be prosecuted if charges are valid. I would resist getting involved unless you have first hand knowledge of all the details.. The bank are sophisticated and have established red flag to id these kinds of situations. The banks are well aware of the current market conditions . Karen, if you have already reported the transaction than you have done your duty but more importantly people who are bold enough to do these sort of things are very dangerous ...
0 votes
Don Tepper, Agent, Burke, VA
Wed May 15, 2013
Bank of America is the injured party. It's the one that has to take action. It's not surprising that you can't get anyone there to respond to you. They often don't respond to anyone. In the whole big scheme of things, they basically don't care. OK?

As Kawain suggests, you can report the properties to the city inspector on the basis of habitability. If they don't seem interested, contact your city council person or equivalent.

Hope that helps.
0 votes
Kawain Payne, Agent, Seal Beach, CA
Wed May 15, 2013
You can report any health and safety issues regarding the property to the city's code enforcement office.

As for possible mortgage fraud, I am sure B of A has their own legal team to look into anything that looks out of line. Try not to worry too much about it.


Best Regards,
Kawain Payne, Realtor
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