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One Home Purchase, Four Indicted
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April 9, 2009
Four women are accused of participating in a mortgage fraud scheme to purchase a home using fraudulent information. The home was foreclosed on and recently sold at a sheriff's sale for about half of the original purchase price.
Marilyn Brookins, Carol Smith, Sharon Cox and Elaine Gaither were indicted on mortgage fraud charges involving one home in Solon, Ohio.
Officials said Brookins inflated her monthly rental income by submitting fake leases to Meritage Mortgage Corporation and also lied about other pertinent information in order to secure a loan on the $575,000 home. Smith arranged for Gaither, a real estate agent, to prepare a fraudulent purchase contract, and Cox laundered $18,000 for her mother Smith.
Read story at Cleveland.com
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