Property located at 22 Mason Street in Hampton was included in a list of homes fraudulently purchased by Frank and Maureen Blake.  The couple was indicted earlier this year.  Frank Blake pleaded guilty to all charges in July in New Hampshire’s U.S. District Court.  Mrs. Blake’s case, however, will go to trial.

Charged with conspiracy to commit wire fraud, the indictment against the Blakes included providing false information on mortgage documents.  Falsifying the actual sale price of each property, the amount of the couple’s monthly income and the intent to use the property as their primary residence were several answers for which the couple provided false information.

Other homes fraudulently purchased in the scheme were located in Nashua, Henniker and Derry.

Several mortgage lenders were provided the fraudulent loan applications, including Bear Stearns Residential Mortgage Corporation, Countrywide Home Loans, First Horizon Home Loan Corporation and First Tennessee Bank, along with New York Mortgage Corporation, which is a division of IndyMac Bank.

Besides the Blake couple, two local lenders from M & M Mortgage in Salem were charged as being involved in the scheme.  Brothers Thomas and Paul Ryder were each charged with one count of mail fraud and four counts of wire fraud.

The Ryder brothers submitted loan applications with false information regarding the actual purchase price of the home, monthly income, employment and assets of the purported buyers, along with the intent of the purported buyers to use the properties as their primary residences.

Further charges included accepting the difference of the actual purchase price versus the inflated sale price submitted in the fraudulent loan applications.

If you’d like to purchase a home the old fashion way, click Hampton, NH Homes for Sale to see what you can find.