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Metro man gets 14 years for mortgage fraud

Metro man gets 14 years for mortgage fraud

This is a discussion on Metro man gets 14 years for mortgage fraud within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Joseph Sterling, a licensed real estate agent form Woodstock, Ga., was sentenced Friday to 14 years in federal prison and ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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10-11-2008, 03:22 AM

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Metro man gets 14 years for mortgage fraud

Joseph Sterling, a licensed real estate agent form Woodstock, Ga., was sentenced Friday to 14 years in federal prison and ordered to pay $11.2 million in restitution for leading...

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