It looks like a duck and quacks like a duck.
Is it a mortgage fraud?
Is it a mortgage fraud?
Please click here for the facts in support of the answer
and don't forget to also visit CyberScamAlert.com.
.and don't forget to also visit CyberScamAlert.com.
It's incredible.
ReplyDeleteI agree with Clarke T. But how is it possible to get past the many people who are involved in processing a mortgage loan?
ReplyDeleteDon't be naive. People don't care and don't want to get involved.
ReplyDeleteYou should read the FBI's Mortgage Fraud Report. It's at www.cyberscamalert.com.
ReplyDeleteWhat about the FBI? Are they investigating?
ReplyDeleteThe loss to the bank is considerably more than what you show.
ReplyDeleteThe bank not only lost the principal amount of the mortgage loan.
The bank also lost the interest and late fees that were not paid.
The bank also lost the amount of attorney fees and costs because the scammer will not pay them, the bank has to pay.
Thank you, Anonymous, for your valuable and helpful observation yesterday. I have made the corrections.
ReplyDeletePlease note, my presentation is intended to give an easy-to-understand overview of how this type of mortgage fraud works in our community and stimulate discussion -- it could be your neighbor's "extra-curricular" activity. More exact details would be necessary for a judge to rule on the issues.
Your update of the facts makes a lot of sense. Unfortunately, you don't let us know who the people are that committed this vile act.
ReplyDeleteI visited your website www.cyberscamalert.com and was impressed. I found valuable information.
ReplyDeleteWhat is the status of your investigation? Will you reveal all the players soon?
ReplyDeleteA guy in our office didn't show up for work today He is pulling the same shift as me. He was arrested for mortgage fraud. Now we all know why he was driving a brand new Lexus.
ReplyDeleteI live in Miami and am shocked what is happening. How can the banks be taken by these crooks? Yes, tracing the source of the down payment will catch these mortgage frauds. Either the bankers who hand out the mortgage loans are stupid, don't give a hoot because it's not their money, or they are in cahoots with the fraudster.
ReplyDeleteHow can a bank finance a purchase like that? What were the intentions of the buyer with this purchase? Obviously, this is a scam, a real mortgage fraud.
ReplyDeleteIs the buyer who paid such an excessive amount in 2008 and stopped paying the mortgage a few months later, an investor? I cannot believe that. Who in his right mind would do such a stupid deal in September 2008? I agree with you, this sale-purchase deal cannot be anything else than a mortgage fraud.
ReplyDeleteI agree with Gary. The buyer in September 2008 is the dumbest real estate investor or is a member of the mortgage fraud thieves. How could they pull this off and the bank let it happen? I assumre it isn't the bank's money that filled the pockets of these crooks. That makes it an FBI case, does it not?
ReplyDeleteIf the mortgage loan was insured by Fannie Mae or the other one, the loss does not come out of the bank's pocket because of the government's insurance coverage and this loss comes out of the federal government's pocket and the taxpayers pay for it. That makes it a federal case and the FBI investigates these cases.
ReplyDeleteClearly, this is mortgage fraud and has to be reported to the FBI as soon as possible because the loot will disappear and we taxpayers will never see our money again. Fannie Mae has to require better measures checking out borrowers to make sure these frauds cannot take place.
ReplyDeleteSaid Al-Mukhtar, I agree with you: we here in America are entitled to make a profit. But doing so by breaking the law and defrauding our fellow Americans is not what our free enterprise system is all about. If you can prove to me that Ambar Martinez paid you legitimate money for the $98,000 down payment I will then maintain an open mind about your making this stunning profit.
ReplyDeleteFor Hal Siebert's information, the other federal mortgage insurance company is Freddie Mac.
ReplyDeleteI know she. Ambar is nice woman
ReplyDeleteSince when is someone nice who commits massive fraud?
ReplyDeleteThe way I see it Ramon is the key figure in this mortgage fraud conspiracy (he delivered the co-conspirators). Said Al-Mukhtar is the biggest beneficiary (he contributed the bait, the bank swallowed the hook, and Said raked in the most of the bank's money). Who is Ramon? Where is Ramon? Ask Ambar Martinez. SHE KNOWS!!!
ReplyDeleteI would not be surprised if an FBI raid not only rounds up fraudsters, but corners illegal aliens as well. Does Krome have enough space to house that many more illegas?
ReplyDeleteThe mortgage fraud perpetrators hurt a lot of innocent people. Many can't get a mortgage now because the banks make it more difficult and the jack up the interest rates.
ReplyDeleteI forgot to raise another point. If this Ambar Martinez can't prove her $98,000 down payment came from legitimate sources, then her goose is cooked, isn't it? The same is true for the Matia couple.
ReplyDeleteThe updated article raises more questions.
ReplyDeleteIs the bank investigating?
What is their responsibility toward Fanniemae and Freddiemac?
Is the government investigating?
What is the responsibility of the lawyers?