scaredsilly

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mollysgf

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hopothetically, if someone was notified that they were being investigated by the local police department for fraud concerning providing altered income tax reported income forms to obtain a loan. point in case:we will say jane wanted to get a home owners line of credit. the house she owns is rented and clears enough to cover any loan. so there is no out of pocket expense. jane alteres her income tax income form makes a photo copy of yrs 05/06, get the house aprraised and learns theres 90,000.00 in equity available. jane owes 77,000.00 in charge card debt and really needs to pay them off. again the rent coming in would cover all costs. jane goes to 2 different banks and a mortgage institute to get the best interest rate. the loan does not go through as a home owners line of credt but instead they want to renigotiate the whole morgage and create a new one which inturn would give 95% of the equity and jane be saving from her old morgage fee to a new one smaller than what jane is paying. but the bank wanted the original tax forms as they do not accept photo copies. in turn this does not happen but the bank notified the police in suspicions of fraud. the bank gave them 02,04,05,06 tax copies. in 02 jane got her morgage renewed and 04 she got a 2nd morgage but had done the same thing and altered her tax forms. now theres never been a missed payment and the mortgage is renewable in 09. what can happen and what do i tell jane to expect. when they receive the tax forms from revenue canada they will know the figures are not the same, this is fraud but what degree is it and what will they do. im sure she will be charged but will she go to jail.
 
Hypothetically, anything can happen and, in fact, often has.

If you have a real question, let us know.
 
can you give me any other advice. I'v contacted a lwyer and was told to do nothing ,let them do their investigation and see what happens. I'm to wait to see when they arrest me and what they have..but i know ive done this so what can or will happen. are there any other cases similar? what kind of fraud is this. there has been no loss to any one. what is the law on this
 
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