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is it possible for someone to do a reverse mortgage on someone's home without their knowledge and is it legal?

by bsheli_266_689 from Jacksonville, Florida. Mar 22nd 2013 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

There are a lot of scrupulous people out there in the world today, and it would not surprise me if some degenerate tried it and was successful, however if it was done without your knowledge, it's Loan Fraud, and it is Illegal... if you want to know for sure, you can contact a local title company and ask them to do a "Title Search"... if the search proves your suspicions, then you should gather up all the paperwork you can and contact your county attorney's office, and file a formal complaint.. because reverse mortgages are backed by the federal government, committing loan fraud on one of these mortgages is a federal crime and it's investigated by the FBI, it's considered "White Collar Priority Crime",.. however you still need to start with your county attorney's office.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Mar 22nd 2013
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

No and No!

Mar 22nd 2013
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Carlos Figueira (carlosfigueira)
#107 ranked lender in New Jersey - 199 contributions

No way.....

Mar 22nd 2013
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

It would we considered elder fraud. If this has taken place, please contact me for possible remedial action.

Mar 22nd 2013
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Charlie Sparks (CharlieSparks)
#8 ranked lender in New Mexico - 401 contributions

Definitely not.

Mar 22nd 2013
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Peter Savino (855411LEND)
#99 ranked lender in New Jersey - 332 contributions

It would be illegal if someone was to try to do that, but anything is possable in a criminals mind.

Mar 22nd 2013
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Jason Robinson (CFIsupport)
#56 ranked lender in Georgia - 106 contributions

There are too many safe guards to prevent a reverse mortgage from being done without someone knowing. The homeowner would have to go through counseling, appraisal, and closing with a 3 day rescission period. They'll have to prove their identity 2 times over, as well as adhere to the patriot act. Good luck

Mar 22nd 2013
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Craig Prickett (cpmtgnow)
#159 ranked lender in Florida - 98 contributions

No, sounds like Fraud, need more information on what happened. If a HECM reverse, HUD may be interested in details. Call me if want to discuss 954 558 4430.

Mar 22nd 2013
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

definately illegal and highly unlikely

Mar 22nd 2013
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