Friday, December 06, 2013

Short Sale Realtor Fraud

No doubt readers are shocked at the scurrilous headline.  Realtors engaged in fraud?  Here's the story:

They would assist clients facing default on their current loans to arrange for short sales of their properties but unknown to the lending institutions, they would arrange for the properties to be sold to straw buyers and the original owners would remain in the properties, and enjoy the benefits of the new loans that the lenders assumed were made to other individuals, the grand jury contends.  
If convicted, Ms. Marquez and Mr. Keatts face a maximum statutory penalty of 30 years in prison and a $1 million fine.

Read the full story:

4 comments:

Cinco-X said...

ReMax of Tennesee

I thought it was Photoshopped...

Cinco-X said...

So far at least, austerity is winning the war

Not sure I'm buying either real austerity or real recovery...

Cinco-X said...

:nytol:

Rob Dawg said...

Austerity is spdeficit spending? And what is this crap that says tax increases are necessary?