Being a victim of Mortgage Fraud for Profit Scheme, who possesses the property during investigation?
Question by little m: Being a victim of Mortgage Fraud for Profit Scheme, who possesses the property during investigation?
I was on a buy to own contract, found out after paying rent, down payment to purchase, the house went into foreclosure on the owner which was 2 years after we went into the agreement. Record now shows that the landlord had nothing to do with the house, not the owner, not on the deed & never filed our agreement at the courts. The previous owner on the deed is MIA, along with the “landlord”… I filed a complaint of Fraud, as everything we went through is a prime example of the Scheme that the FBI has been working on. Our problem, the house was foreclosed upon, and the bank that is involved in the scam is trying to evict us…they were cooperative until they found out we knew the scam was taking place. We have lots of time & money in this place, plus still wanting to purchase it! During a fraud, or scam investigation, although it has been foreclosed upon, can the scammer bank still proceed to have us evicted? Who gets the house if it’s a proven scam? The scam bank? the government? who?
Best answer:
Answer by wizjp
No agreement exists in the eyes of the court; so you can’t make a valid claim to posession. AS you hadn’t completed the BTO agreement you would have only a limited right to exercise buyout options anyway. At this point, the person who purchase the home from the foreclosure has the right to the property; you have a fraud suit against the owner who did not carry thru the contract. At this time, if the foreclosure is completed, the bank has posession and can evict you.
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