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Just Helping the Borrower Qualify
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March 27, 2009
Five people have been arrested for fraudulently helping mortgage borrowers secure financing by falsifying employment and income records.
The owner of Amara Mortgage, her spouse and three others have been accused of using fabricated businesses for verification of employment to help borrower's qualify. Forty-five loan fraudulent applications were submitted to lenders and 25 of them, or $6.2 million in mortgages, are in foreclosure.
Maria Arantegui, 34; her husband, Alfredo Arantegui, 38; Asuncion Menendez, 55; Damarys Lugo, 41; and Maria D. Dager, 41, have all been arrested. Jorge Perez, 50 is due to turn himself in.
Read story at WINK News
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