Reply to Kwame Brown Expected to be Charged with Fraud

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[quote=Anonymous][quote]jsteele wrote:
Earlier, everyone was referring to the application as a credit card application. Now, it looks like it was a home equity loan application. Kwame overstated the value of his home in order to get a larger loan.

What is an appraiser for, if not to place a value on a property. Lots of people think their homes are worth more than what someone else would pay for it. I don't see how this is a big deal. I apply for a refinance loan. The application has a space asking what is the value of my home. You, say 500K. Then you are asked how much is outstanding on the home, and you mark 300K. Finally, you request a loan amount in the amount of 400k. If the appraisal comes back stating that the house is appraised at 340K because of changing market conditions, how is that a felony. A lot of people would be in jail.[/quote]

The article in the Examiner has a link to the complaint. Brown overstated his INCOME, not the value of his home, by tens of thousands of dollars. Moreover, he falsified a document verifying that his income was tens of thousands of dollars over what is was.[/quote]

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