mortgage fraud

[jaycee401]

what is the penalty for committing mortgage fraud and who should it be reported to?

[seatrout]

what do you mean by mortgage fraud exactly

[jaycee401]

somebody who has taken on a new mortgage not declaring they already are on another mortgage which is is negative equity and arrears.

[kempie]

I seem to recall that the penalty for this offence is to resign your Cabinet post as Secretary of State for Trade and Industry, lay low for 10 months and then return as a Cabinet Minister with the appointment as Secretary of State for Northern Ireland.

http://en.wikipedia.org/wiki/Peter_Mandelson

[Buenchico]

The maximum penalty for 'obtaining a money transfer by deception' is 10 years imprisonment. [Theft Act 1968, Section 15A , as amended by the Theft (Amendment) Act 1996, Section 1].

Offences should be reported to your local police station or, probably better, by writing to your county police HQ (marking the envelope "Fao: Officer i/c Fraud Investigation").

Chris

[seatrout]

whether this is fraud largely depends on the view the new lenders take. It sounds to me like you are out to get someone. What is your interest in this exactly?

[Phantaxus]

see http://www.theanswerbank.co.uk/Law/Civil/Quest ion335288.html

[noxlumos]

Stop bitching at one another and move on. Spiteful people never have happy lives my friend. Enjoy yours and let him enjoy his and don't make waves because you're bound to have your own skeletons.

[EverClean]

It seems fairly unlikely that the new lender would not already know this. If they have carried out credit checks then this existing mortgage and the payment history will already be known to them.

I say shop them - why should the rest of us have to pay to cover bad debt? The banks won't foot the bill it will all be passed on to us in higher charges or reduced savings rates.

[jaycee401]

hi thanks for your reply - im not being bitchy but the person involved transfered the property into my name 2 yrs ago, after I paid his mortgage off ( i even have a letter from him saying he was selling it me for a certain price) he is now trying to get some more money from me when all this was completed in May o5.