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17 Charged in Massive Mortgage Fraud Scheme

17 Charged in Massive Mortgage Fraud Scheme

This is a discussion on 17 Charged in Massive Mortgage Fraud Scheme within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Federal prosecutors on Wednesday charged 17 people in what they call one of the largest bmortgage/b fraud cases ever seen ...

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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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10-30-2008, 02:20 AM

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17 Charged in Massive Mortgage Fraud Scheme

Federal prosecutors on Wednesday charged 17 people in what they call one of the largest bmortgage/b fraud cases ever seen in the Kansas City metro. A real estate agent and two...

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