Investigators from Freddie Mac want to meet with me regarding a house I bought as a straw buyer?
This all happened to sudden. I have no idea what to do I’m so worried.
Should I get a lawyer first before meeting with them
Tagged with: lawyer
Filed under: Freddie Mac Questions
Like this post? Subscribe to my RSS feed and get loads more!
Lots of reasons for a straw man transaction. If you at no time were even slightly afoul of the law or conditions of a loan application, you should be able to just go tell the truth. Not enough detail here to know how deep you are swimming in excrement
If it were me, I get a lawyer.
TELL the TRUTH. Don’t lie or you will have SERIOUS problems.
We’re talking federal crimes here.
As well you should be – you may have been involved in fraud. Though I hear Leavenworth is nice this time of year.
Of course they do. You helded defraud a lender.
Yes, I would get a lawyer TODAY. What you did is illegal.
Straw buying is a practice where an individual will step in for the purposes of financing a home. The ’straw-buyer’ is a person who has the credit/income/asset position to help obtain favorable financing terms, where the actual owners/buyer do not have the necessary credit profile. This practice is not allowed by lenders. The mortgage application specifically asks if the person (straw) buying the home will occupy the home as a primary residence, if they answer ‘yes’ then they have committed fraud. The right way to do this is to have the person who qualifies buy the home as an investment property and rent it to the real buyers.
If you really did this, then you may want to simply invoke your right to remain silent. You might also want to talk to an attorney as well, if you can afford it.
Believe me, you are not the only person in the U.S. that is under investigation.
Wow federal crime of fraud, pack your bags and get ready for some serious fines