Real Property Law
Cal. Real. Prop. Journal 2014, Vol. 32, No. 2
Content
- 2013-2014 Executive Committee of the Real Property Law Section
- California Real Property Journal
- Loan Modification Law In California
- MCLE Self-Study Article: Real Estate Broker Exculpatory Clauses: Their Use and Misuse
- Practice Tip: Using a Prevailing Party's Pre-Trial Conduct to Reduce Attorneys' Fees
- Real Property Law Section Subsection Chairs and Standing Committee Chairs 2013-2014
- Table of Contents
- The Land of Aas, or, Dorothy, We're Not in Kansas Anymore
- Mortgage Shotgunning and the Priority of Trust Deeds
Mortgage Shotgunning and the Priority of Trust Deeds
By Scott Talkov
©2014 All Rights Reserved.
I. MORTGAGE SHOTGUNNING FRAUD
The real estate fraud known as "mortgage shotgunning" or "mortgage slamming" occurs when a homeowner obtains multiple loans secured by the same home in order to receive loan proceeds that, in combination, greatly exceed the value of the real property.1 The homeowner commits fraud by failing to inform each lender that s/he has obtained multiple loans secured by the same property. The homeowner2 then absconds with the proceeds of the multiple loans on the same property.3