The interest-rate they get is only 1/2% better, but the down-payment requirements are lower - and that's where the trouble starts. For those looking for some legit doom potential, here ya go!
Occupancy Fraud
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Scams
Referral Fees
Paying referral fees is a standard practice in the realtor business. Are you thinking of moving to a new town and need an introduction to a realtor there? Your agent here will track one down for you, and that agent will pay them a referral fee, which used to be 20%...
Listing Scam
Surprised we don't see more of these - and wouldn't you disappear after stealing $5 million? LOS ANGELES – A Southern California brother-and-sister team were arrested today on federal charges alleging they orchestrated a $6 million real estate fraud scam in which they...
Zestimate Accuracy
Zestimate Accuracy
Agent Referral Networks
Have you been seeing more of this guy lately? He wants to hook you up with the top agents in your area - AND only charge you a 2% commission. They keep the 2% circle at the bottom of the advertisement for the entire 30 seconds to engrain in your head that they have...
Underprivileged Get Foreclosure Privilege
Another story demonstrating how free enterprise is being squeezed: California is taking steps to avoid a repeat of the conversion of thousands of single-family homes from ownership to rental properties as occurred during the Great Recession. In late September, the...
Global Financial Meltdown
A viewer's comment on YouTube led me to this terrific inside view of the 2008 financial crisis, and the resulting impact on the world. It rightly blames the entire fiasco on the Tan Man, who pitched his mortgages to Wall Street based on the yields generated if...
Barbara Gets Scammed
Barbara Corcoran said she lost nearly $400,000 after her financial team responded to an email that turned out to be a phishing scam. "This morning I wired $388,000 into a false bank account in Asia," Corcoran told ABC News. Last week, the millionaire's bookkeeper...
REO Fraudster Goes to Jail
These are the crimes and attitude required to actually go to jail for real estate fraud: A former Fannie Mae employee will spend more than the next six years in prison after being found guilty of accepting more than a million dollars in bribes and kickbacks in...
Adverse Possession
Hat tip to SM for sending in this article: If you break into an empty house, move in your family and your belongings and call it home, can you ever stake a legal claim to the property? The answer is yes. But it’s a difficult process, and it rarely ends successfully....
