[recycled sixtie]

Just a couple of questions for the lawyers. I am aware that the law is not always the same between the different States and Provinces but there must be a general principle involved with mortgage fraud.

I was talking to a neighbor recently and he experienced mortgage fraud about thirteen years ago. He said he took legal action years after and they told him it was too late(Stature of limitations?).

He said his wife and him were nearly wiped out by a woman who successfully applied for a mortgage on their property. They eventually found her in her workplace but was told it was too to take any action against her.

Now my question is this. Is the issuing company of the mortgage always on the hook because they did not do enough research on the new mortgage application?

Is there a time limit on suing the mortgage co. and the person who made the new mortgage application?

How do I know if somebody has successfully applied for a mortgage against our paid up property if the bank has not done its homework properly?