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Occupancy fraud

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azref2627

Junior Member
So now that I have assumed a VA loan that was fraudulently opened by my uncle in which the proceeds of the "purchase" were given to my brother - can I simply pay off the loan with cash from my bank now and be worry free of anything ever coming back on me or my uncle for either my VA loan, my uncles VA loan or my assumption of my uncles VA loan?

Thanks
 


LdiJ

Senior Member
I used the article to show how something so small as a missed payment could lead to a downfall of the entire scheme. Are you saying that the intentional fraud here will be harder to find out about than the intentional fraud in the article?
No, I am saying that stealing someone's identity in order to get a loan is quite a bit more serious than lying about a property being your primary residence.
 

Whoops2u

Active Member
No, I am saying that stealing someone's identity in order to get a loan is quite a bit more serious than lying about a property being your primary residence.
Why?

It's the same crime. The differences I've seen have to do with the intent. It is one thing to not fully understand or fail to notify if a house becomes unoccupied by a VA eligible owner, it is another to intentionally commit fraud. It is easy to find intent when a person uses another identity completely. It is harder when a person makes some claim about having no idea.

In this case, from the wording of the original question and the facts included, it seems intent is pretty clear.

The difference is not in the crimes that would be charged, the difference gets to how hard it would be to prove intent.
 

LdiJ

Senior Member
So now that I have assumed a VA loan that was fraudulently opened by my uncle in which the proceeds of the "purchase" were given to my brother - can I simply pay off the loan with cash from my bank now and be worry free of anything ever coming back on me or my uncle for either my VA loan, my uncles VA loan or my assumption of my uncles VA loan?

Thanks
The odds of someone investigating a loan that is paid off are slim to none.
 

Whoops2u

Active Member
The odds of someone investigating a loan that is paid off are slim to none.
Remember, the whole point of this thread has to do with the "odds" having to do with brother's threat. What are the odds of an investigation when one of the co-conspirators confesses?
 

LdiJ

Senior Member
I used the article to show how something so small as a missed payment could lead to a downfall of the entire scheme. Are you saying that the intentional fraud here will be harder to find out about than the intentional fraud in the article?
I am saying that stealing someone's identity is seriously different than other types of fraud.
 

Whoops2u

Active Member
I am saying that stealing someone's identity is seriously different than other types of fraud.
Why do you keep saying the same wrong thing?

Is it a different crime?
Are the punishments different?
What is the factor(s) you are using to determining how "seriously different" it is?
 

azref2627

Junior Member
What is the name of your state? AZ

My brother has a judgment against him for $250,000 so he can't have assets in his name.

My mom purchased a house for him in 2010 that he paid all of the bills for up until her death in 2012. In 2013 I got the title transferred to me via her will and got a new primary residence VA loan so he could continue to live there. I never lived there or intended to live there.

In 2015 my uncle purchased the house with a new primary residence VA loan. This was done to get money out of the house as the value had gone up quite a bit. Again, my uncle never lived there or intended to live there. My brother lived there and paid all the bills.

In 2017, I assumed this loan as a VA assumption that did not require it be my primary residence as my uncles health was getting bad.

Am I or my uncle liable in any way? The loan I originally got has been paid off. The loan my uncle got was assumed by me. Can they go back and do something if my brother tells them something as he has threatened to do?

Thanks

I forgot that in the original 2010 loan my mother got on the house my brother worked out a side deal with the seller (who he worked for) where they inflated the price of the house so he would get back $27,000 - his boss flipped houses so he was able to do this since we paid for everything presale and his boss just received a set $5k profit and payment for his crew to do the needed repairs. Of course that was paid to me since my brother had no checking account.

Is this $27,000 payment I received only a tax implication to me or is there something more? Thanks
 
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Whoops2u

Active Member
It seems there is no rock of mortgage fraud you want to leave unturned. Kickbacks and/or inflated appraisals are also types of mortgage fraud.

The fruits of crime are taxable.

Who got the income or if it really is "income" (because there is a debt against it) is harder. But, you're going to have a $27,000 hit on your checking account that may need to be explained someday.
 

Just Blue

Senior Member
I forgot that in the original 2010 loan my mother got on the house my brother worked out a side deal with the seller (who he worked for) where they inflated the price of the house so he would get back $27,000 - his boss flipped houses so he was able to do this since we paid for everything presale and his boss just received a set $5k profit and payment for his crew to do the needed repairs. Of course that was paid to me since my brother had no checking account.

Is this $27,000 payment I received only a tax implication to me or is there something more? Thanks
I'll take "Something More" for $27, 000.00 , Alec. ;)
 

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