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This amount can vary from $0 for VA loans, 3.5% for FHA Loans and 20% for conforming mortgages. Speak to your licensed mortgage loan originator to Down payment of less than 20% percent, might require a purchase of private mortgage insurance (PMI). PMI protects the lender in the event of foreclosure.

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Middle District Of Florida’s Civil Division Advances Reverse Mortgage Fraud Enforcement Initiative By Resolving Civil Fraud Claims Against Tarpon Springs Condominium complex owner conviction for reverse mortgage fraud has the same penalties as mortgage fraud: a prison sentence of up to 30 years and fines up to $1 million.

Two Florida Residents Sentenced For Their Role In Mortgage Fraud Conspiracy Tampa, FL – U.S. District Judge Susan C. Bucklew has sentenced Alejandro Tobon (35, Orlando) and carlos escarria (61, Largo) to 37 months and 18 months in federal prison, respectively, for conspiracy to commit bank and wire fraud.

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