WOBURN – Attorney General Martha Coakley’s Office announced the guilty plea of a former Somerville real estate attorney yesterday in connection with making false statements on mortgage applications and associated documents and using the funds secured from the loans for his own purposes, rather than paying off existing loans as directed by the new lenders. Kevin Carey, age 49, of Middleboro, pled guilty in Middlesex Superior Court to the charges of Larceny over $250 (8 counts) and Willfully Making a False Statement Regarding Financial Condition or Assets (7 counts). Carey is scheduled to be sentenced on November 6, 2009, in Bristol Superior Court. While practicing as a real estate lawyer in Somerville and Medford, Carey engaged in a scheme called “mortgage stacking” on four residential properties he or his family members owned. The scheme involved serially refinancing the loans on these properties, without paying off the existing loans. Carey was also the agent for a New England tit...