A Jersey City mortgage broker has been sentenced to eight years in state prison after admitting to conspiring to steal over The straw purchasers in turn sold the homes at much higher prices to other purchasers – who were the borrowers for the fraudulently obtained loans, according to court records.

Reverse Mortgage Loans. Are you a senior over 62 years of age? You may be eligible to convert part of your home equity into cash from loan proceeds. Instead of making monthly principal and interest payments to a lender, a reverse mortgage loan allows you to receive payments from the lender.

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The owner of a Florida mortgage company was sentenced today to serve 135 months in prison for orchestrating a $64 million mortgage fraud scheme.. Division, U.S. Attorney Wifredo A. Ferrer of the Southern District of Florida. included loan officers, loan processors and underwriters, were convicted of.

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Mortgage Brokers vs. Banks. With a home equity loan, you get the best of both worlds. A low interest rate and a fixed interest rate. If you took out a home equity loan for that amount, you could apply it to your first mortgage and reduce the balance to zero.

Incoming wave of millennial homebuyers is a major opportunity for US housing market! Mortgage Masters Group 10 facts you need to know about US Millennial homebuyers – According to the mortgage firm Nationwide Mortgages, here are 10 stats you may not know: 1. Millennials are the largest group of homebuyers. Not only do Millennials make up 34 percent of all US homebuyers, they constitute a whopping 66 percent of all first-time buyers. Millennials are a force to be reckoned with in the housing marketplace.

Tampa Loan Officer Sentenced in Mortgage Fraud Case. TBadmin | August 11, 2018. TAMPA – A Tampa man has been sentenced to federal prison for his role in a conspiracy to commit wire fraud, the U.S. Attorney’s Office for the Middle District of Florida said.