Legal Question in Real Estate Law in New Jersey
mortgage
I was given money by a branch mngr of a mortgage company whom I was friends with for my down payment on a mortgage. They said it was a gift, then, after they wrote my mortgage, i was told it was a loan and i was sued by the individual to repay it. I couldn't have qualified for the mortgage(i don't believe so anyway) with out the money I was given. Is this illegal for her to do?
2 Answers from Attorneys
Re: mortgage
This sounds very fishy. Did your friend/broker give you a "gift letter" at the time? I suggest that you retain counsel to defend the suit. Call me if you would like.
Re: mortgage
My first impression is that the money was given to you by the branch manager as a means of defrauding the mortgage underwriter. I think that if this case were properly defended, you might be able to win because of that. That would be particularly true if there were documents that stated that you had disclosed all the other loans and sources of funds.
My firm handles matters of this type. If I can be of further help to you, call or email.
See also: http://info.corbettlaw.net/lawguru.htm
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