More on Mortgage Fraud
Mortgage Fraud (and greed) prey on the weak and are contributing factors to this real estate – sub prime disaster. Ultimately it will cost us all (taxes, bailouts, it will cost us!)
Read about: How Lehman Brothers was swindled out of $50 million
Alarmed that real estate fraud is contributing to California's mortgage foreclosure crisis, the state Senate voted Thursday to allow counties to increase fees for filing property purchase documents to beef up fraud investigation units. Read Remainder here:
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9/5/2008 5:46 PM
Los Angeles Real Estate Blog wrote:
For most of this year, I have been following the foreclosures at the time of the lender’s acquisition. This month we will look at the Glendale homes sold in August (2008) that were foreclosures (after the bank took them back from the former homeowner). I am noting the most recent private party sales and the foreclosed August resale (to the new buyer). Sale #2, reflects a nearly 20% decline but before we claim that prices dropped 20% in 2 years, we need to remember that foreclosed property are typically "beat up" - there is deferred maintenance.Sale ...
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