This guy received his first NOD in April, 2006, and has been working the system ever since. Yesterday he listed the house on the MLS for the first time in almost two years with a broker out of the 916 area code. With his next trustee sale date being January 14th (the...
Here is a report on the seller-assisted down payments, where the seller donates an amount of money (equal to the buyer's down payment) to a "non-profit entity", who then gifts it to the borrower. From NMN: WASHINGTON-It was well known inside HUD that a special...
hat tip to the Leucadia Blog for sending over Suzy's story, plus they mentioned the Encinitas Extreme Home Makeover house in foreclosure too: http://www.theleucadiablog.com/2009/12/encinitas-monster-house-and-extreme.html...
Here's a flipper who was foiled in the act. A realtor had listed this house in June, noting that it was a short-sale flip in progress. They had arranged (conspired) with the seller to submit to the existing lender a short sale package at a lower price, and then listed...
Hat tip to Chris for sending this along: LINK TO ACTUAL CRAIGSLIST AD
From Peter Y. Hong: http://www.latimes.com/business/la-fi-mortgage-fraud-2009aug11,0,7969080.story From 2000 to 2003, the group pumped up home appraisals and arranged straw purchases of houses in Beverly Hills, Bel-Air and other neighborhoods. After obtaining...
I have been very fortunate to have reporters quote me accurately. But this is stretching it - Forbes called a few weeks ago looking for my thoughts, and while I did say the things below, I said, "I don't do loan mods, you need to speak to people that do them"....
Mortgage fraud-related Suspicious Activity Reports referred to law enforcement increased 36% to 63,713 during 2008, compared to 46,717 reports in 2007, according to the Federal Bureau of Investigation's 2008 Mortgage Fraud Report. While the total dollar loss...
CA renter and I saw this new listing hit the market at about the same time yesterday, and had the same reaction - you gotta be kidding! http://www.sdlookup.com/MLS-090037885-3302_Azahar_Carlsbad_CA_92009 It's a 34-year old house with no upgrades on an 11,000sf lot in...
On our regular blog watch is the Mortgage Fraud Blog: http://www.mortgagefraudblog.com/index.php/ She added this whopper on Beazer Homes settling for $10 million now, and up to $50 million eventually to compensate for these illegal activities: Beazer, and its...
