What can I do about a fraudulent loan?

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What can I do about a fraudulent loan?

My mother was diagnosed with Alzheimer’s disease in 2002. The local bank allowed my ex-husband to take out a second mortgage on the house in the amount of $30,000. She was unable to leave her home and the bank sent a loan officer to her home for signature. I did not find this out until after her death. I had to let the bank have my parents’ home. The bank and my ex are both walking debt free and I am furious. I don’t want to spend money on a case that I am going to lose. What are my odds of restitution from the bank?

Asked on October 19, 2010 under General Practice, Missouri

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

No one can tell you what your odds of winning the lawsuit are here and no one can tell you what the outcome would be, especially in this type of forum. But, that having been said, I think that you may have a very good case to set aside the loan and to sue the bank and your ex-husband.  You need documentation that your Mother did not have the mental capacity to sign the documents at the time that the loan was taken out.  You will need to prove probably fraud and did he cash a check made out to your mom?  Forgery or embezzlement and a whole host of other lovely crimes for which you can nail him for.  But you need legal consultation with all the documentation.  So go for that at least.  Good luck.


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