Legal Question in Real Estate Law in Virginia
loan application info. altered
In the process of buying a condo, I submitted my loan application information to my realtor. However, after the closing I reviewed the closing documents more closely, I discovered that my realtor had altered my financial information on the loan application(e.g. more than doubled my actual income)without my permission. I'm afraid that I would not have qualified for the loan with my actual income. Had I known this, I would not have gone through with the transaction. I still have a signed copy of what I originally submitted. If I have the info. corrected, will I be penalized for what my realtor did (especially if it means that I no longer qualify and may not be able to keep the condo)? What actions can I take after the fact since I have already closed, signed the documents, and moved into the condo? I do not want to be held liable for providing false information submitted by my realtor. If a lawsuit is necessary, how difficult would it be to win?
2 Answers from Attorneys
Re: loan application info. altered
Good Evening,
In order to give you the best answer, it would be necessary to see the loan application documents. That said, alteraltion of loan documents by a real estate licensee is very serious and you may have a cause of action against the agent and or broker.
Best Wishes,
Robert J. Strupp
Robert J. Strupp Attorney at Law, PLC
Re: loan application info. altered
Aside from your possible cause of action against the realtor, a more pressing question may involve the issue as to what now exactly is your possible exposure to criminal liability, if any, and whether you, having discovered the apparently falsified documents(normally a federal felony) and, instead of reporting it expeditiously to the lender and whomever else it should have been reported to, could now, perhaps, be linked to the fraud through what might be viewed as your apparent acquiescence as evidenced by your taking up residence in the condo after having discovered that the loan application had been, apparently, falsified and
by continuing to maintain your silence in regard to this apparent malfeasance on the part of the realtor?
I would suggest that it's time for you to arrange a consultation with a criminal defense counsel with experience in defending clients
charged with this kind of white collar crime(falsification of loan application to bank or other federally backed financial institution).
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
