mortgage fraud & a house included in the bankruptcy

[jturk]

if a person commits mortgage fraud (using fraudulent tax returns) to purchase a property & files bankruptcy about a year later. will the bank that holds the mtg on the property in question compare the tax returns that you used to purchase the property with, with the real tax returns that were submitted when you filed bankruptcy?

i hope thats coherrent.

[tcreegan]

Hi jturk,

They might but probably won't...especially if the mortgage lender is a huge national firm.

Look at the problems they are having w/ foreclosures...

On top of it, for a purchase last year, unless there was a whopping down, it is not going to have enough equity for someone to keep it in the BK. Its probably going back to the lender anyhow...

Just my 2 cents, probably worth 1 1/2 cents....

Tom in Colo

[newbie2]

if a person commits mortgage fraud (using fraudulent tax returns) to purchase a property & files bankruptcy about a year later. will the bank that holds the mtg on the property in question compare the tax returns that you used to purchase the property with, with the real tax returns that were submitted when you filed bankruptcy?

i hope thats coherrent.

During the course of your bankruptcy, no, not usually. Afterwards, (if the home went in to foreclosure within a short time period of owning the home) they can, and they have been. Normally though they do an internal audit of the files (looking for questionable practices by the loan officers, appraisers, underwriters, etc.)

[Flamingo]

if a person commits mortgage fraud (using fraudulent tax returns) to purchase a property & files bankruptcy about a year later. will the bank that holds the mtg on the property in question compare the tax returns that you used to purchase the property with, with the real tax returns that were submitted when you filed bankruptcy?

i hope thats coherrent.

If this is for yourself personally, I would definately speak directly with an attorney.

[scorpion35]

if the bank decides to investigate further they will probably refer u to the FBI