One tough thing about being a lawyer

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richalisoviejo

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Trying to help someone by giving them legal advise and they completely ignore it.

Case in point: I have a neighbor living across the street. Our property vales have dropped by 40%, now they have no equity in their home so they have decided to allow the bank to foreclose. Now the wife lies to the bank by telling them her husband left her and she can’t make the payments, all the while he’s still living there. Which of course the bank now knows this. Now they both face mortage fraud. Which they deserve, but they have a six year old child in the middle of this mess.
 

richalisoviejo

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Isa said:
It is never good to lie! Do you know what is going to happen to them?

If the bank presses the mortage fraud issue they could both do time, or one will since they have a child to take care of. They can afford their payment they just don’t want to make a 2800.00 monthly payment on a home with no equity so they could not claim a hardship, they created their own hardship by lieing to the bank.

When they talked to me about it I told them their best deal would to do a short sale. Short sales hit your credit score less then a foreclouse and they could purchase a new home within three years.
 

Jacqui

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As a person who is known to ask others for advise, but then not always follow it, lol, maybe I should not make a comment here. :D I don't ask advice to just follow what somebody has to offer, but rather as a source to maybe see something I haven't factored in already.

I too think they should not have lied. Those lies, even "white" or "small" ones, almost always come back to haunt you. Usually too, it seems facing the music at the start, is an easier, less painful thing then what bad we believed would happen.

Shame they have a child in the middle.
 

Isa

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richalisoviejo said:
Isa said:
It is never good to lie! Do you know what is going to happen to them?

If the bank presses the mortage fraud issue they could both do time, or one will since they have a child to take care of. They can afford their payment they just don’t want to make a 2800.00 monthly payment on a home with no equity so they could not claim a hardship, they created their own hardship by lieing to the bank.

When they talked to me about it I told them their best deal would to do a short sale. Short sales hit your credit score less then a foreclouse and they could purchase a new home within three years.

They should have listened to you. I did not know you could do time for that, the worst part is they have the money.
 

Weloveourtortoise

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It does not matter if they asked for advise or not, I hate people who think they are above the law and think they can get away with lying, cheating, stealing, and not pay the price when caught. Who do they think they are to believe they are better than the rest of us who are in the same situation with property values dropping and loss of jobs, to acutally lie to their mortgage holder when they can afford the payments when people are currently out of work, stuggling to make ends meet and they make their mtg/rent pmts.
 

Stazz

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I agree!! I find it so silly that they don't take a LAWYER'S advice !!!! They put themselves in the booboo. I just say tisk tisk.
Especially having a 6 year old child stuck in the middle - they obviously did not stop to think about the consequences for the child, not just themselves!
 

richalisoviejo

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Mortgage fraud is s serious offense. I don’t have any sympathy for either one of them. I do have a soft spot for the child stuck in the middle.
 
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