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Ellen
Ellen, Lawyer
Category: Criminal Law
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Experience:  25 years of experience helping people like you.
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Is it "mortage fraud" to sell to a family member when your

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Is it "mortage fraud" to sell to a family member when your house is in a "short sale" and the lender, even if not Fanny Freddy asks you to sign a Arm's length affidavit" and you lie on that affidavit?
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Your Question - Is it "mortage fraud" to sell to a family member when your house is in a "short sale" and the lender, even if not Fanny Freddy asks you to sign a Arm's length affidavit" and you lie on that affidavit?

 


My Answer - Yes

Explanation - Mortgage fraud is a general term used to describe any attempt to defraud a bank or lender. In this situation the person could be charged with bank fraud, making false statements and mail fraud if the US Post Office was used at any point

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Customer: replied 4 years ago.

Thank you very much for your quick response. I was only asking because I was having a discussion with someone about this. They were trying to say that it would only be fraud if it were a Fanny Freddy loan and not with other banks. Then they were trying to say that because there was no law requiring banks to ask for a "arms length affidavit" it would not be illegal. So, thank you for helping me to prove my point. :)

You are very welcome Cyndy. Please let me know if I can assist you in the future

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