If you lie to get a good loan!
- Thread starter Jarod
- Start date
ExpressLane
Verified User
Evaluations are subject to the agreement by the bank. If the bank does not agree with your evaluation they don't loan you the money. Banks don't loan millions without having the property appraised and agreeing to the value of the property. I had a family member that tried to buy a Federally insured loan home. The bank disagreed on the value of the home and the owner had to lower his price before the loan could be made.
Very true, does that make lying to the bank legal?
You sound dumber with each troll post.
PostmodernProphet
fully immersed in faith..
fool.....if you lie to get a loan but the bank does its' own assessment and gives you a loan based on that instead of relying on the application there is no fraud......please tell me you went to class the day they taught that in law school......
PostmodernProphet
fully immersed in faith..
show me a law against it.....one that doesn't have "reliance" as an element......
Wrong, there is no exclusion to fraud for lack of reliance.
New York Penal Law Article 190 part 3 Article K
S 190.60 Scheme to defraud in the second degree.
1. A person is guilty of a scheme to defraud in the second degree when
he engages in a scheme constituting a systematic ongoing course of
conduct with intent to defraud more than one person or to obtain
property from more than one person by false or fraudulent pretenses,
representations or promises, and so obtains property from one or more of
such persons.
2. In any prosecution under this section, it shall be necessary to
prove the identity of at least one person from whom the defendant so
obtained property, but it shall not be necessary to prove the identity
of any other intended victim.
S 190.55 Making a false statement of credit terms.
A person is guilty of making a false statement of credit terms when he
knowingly and willfully violates the provisions of chapter two of the
act of congress entitled "Truth in Lending Act" and the regulations
thereunder, as such act and regulations may from time to time be
amended, by understating or failing to state the interest rate required
to be disclosed, or by failing to make or by making a false or
inaccurate or incomplete statement of other credit terms in violation of
such act.
S 190.65 Scheme to defraud in the first degree.
1. A person is guilty of a scheme to defraud in the first degree when
he or she: (a) engages in a scheme constituting a systematic ongoing
course of conduct with intent to defraud ten or more persons or to
obtain property from ten or more persons by false or fraudulent
pretenses, representations or promises, and so obtains property from one
or more of such persons; or (b) engages in a scheme constituting a
systematic ongoing course of conduct with intent to defraud more than
one person or to obtain property from more than one person by false or
fraudulent pretenses, representations or promises, and so obtains
property with a value in excess of one thousand dollars from one or more
such persons; or (c) engages in a scheme constituting a systematic
ongoing course of conduct with intent to defraud more than one person,
more than one of whom is a vulnerable elderly person as defined in
subdivision three of section 260.30 of this chapter or to obtain
property from more than one person, more than one of whom is a
vulnerable elderly person as defined in subdivision three of section
260.30 of this chapter, by false or fraudulent pretenses,
representations or promises, and so obtains property from one or more
such persons.
2. In any prosecution under this section, it shall be necessary to
prove the identity of at least one person from whom the defendant so
obtained property, but it shall not be necessary to prove the identity
of any other intended victim, provided that in any prosecution under
paragraph (c) of subdivision one of this section, it shall be necessary
to prove the identity of at least one such vulnerable elderly person as
defined in subdivision three of section 260.30 of this chapter.
Scheme to defraud in the first degree is a class E felony.
You are likely confused as to the difference between criminal fraud and civil fraud. Maybe years of evicting people made your brain soft.
Exactly. If YOU took out a second mortgage based on a false appraisal of your property, you would be guilty of committing fraud. You ripped the lender out of money they could have received from a higher interest rate. Trump doesn't seem to understand this, and neither do his morons.
Freddy Figbottom
Was it me?
Usually in criminal cases it is the intent that matters, not the result. Murder is an exception, but all jurisdictions have a crime called "attempted murder".
Its still DUI if you get home without killing someone.
so pathetic.
How so? Or are you unable to give a descriptive reply? I think I understand.
ExpressLane
Verified User
So it isn't a lie. It may be a legitimate difference of opinion . In this case the bank and Trump reached the same opinion on the value of his real estate. So it wasn't even a difference of opinion. It's just like the NY AG was under the opinion that Mar A Lago is worth 18 million. I'll buy it right now today for that price. And I'll sell it tomorrow for much more than that price.
Freddy Figbottom
Was it me?
do you think it's rare that values on loan documents are different than zillow ?
should A.I. be used to find all these crimes in data and prosecute everyone? if not, why not?
ExpressLane
Verified User
Indeed
MAGAs just expect trump to lie about everything, and I think they love and admire him for it.