[Homestead] Septic Rant
Gene GeRue
genegerue at ruralize.com
Mon Jun 4 09:09:14 EDT 2007
On Jun 3, 2007, at 10:49 AM, Don Bowen wrote:
> . . . a realtor and an appraisal agent conspire to appraise a
> house well
> above its real worth, $50 to $100 thousand. Then they get a loan,
> take
> back most of the excess from the seller, then the buyer lets the house
> foreclose. The seller does this with several houses at once
> because one or
> many foreclosures has the same affect on the credit rating.
That's an old scheme. It was used by three jerks in my town in my
early years of real estate brokering. In some cases, the loans were
made on an empty lot but the appraiser took photos of a house on the
same street.
The independent appraiser, the Wells Fargo loan officer, and the
Realtor all went to jail.
There will always be those who think they are smarter than anyone else.
More information about the Homestead
mailing list