NECMF

Dec 18, 2015 2:31 PM

Man sentenced to 27 months in prison for fraud

The Associated Press

CONCORD — A man has been sentenced to 27 months in prison for fraud charges related to mortgages in New Hampshire.

Court documents say 48-year-old Kurt Sanborn, formerly of Dracut, Massachusetts, used a private $500,000 loan to buy a home in Manchester in 2003. In exchange, the private lenders received a first mortgage on the property.

Sanborn later asked a mortgage company for a $685,000 loan to buy a second home in Gilford. The mortgage company agreed to finance the transaction if it received first mortgages on the Manchester and Gilford properties.

Prosecutors said Sanborn used paperwork with the private lenders' forged signatures filed with the Hillsborough County Registry of Deeds.

Sanborn was also charged with bank fraud.

He pleaded guilty to the charges.

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