Flutterby™! : Massive Mortgage Fraud case

Next unread comment / Catchup all unread comments User Account Info | Logout | XML/Pilot/etc versions | Long version (with comments) | Weblog archives | Site Map | | Browse Topics

Massive Mortgage Fraud case

2003-07-29 18:01:19.043971+00 by Dan Lyke 0 comments

Wandering around the neighborhood recently, and noting the 1 bedroom shack (that had a bowed roof before the last buyer fixed it) on the market for $439k, we've started seeing that houses aren't selling for their asking prices in Marin. Just last night we walked past a house with a stack of flyers out fron that were penciled down ten thou from the asking price. Carol Lloyd looks at one of the schemes that might have caused the over-pricing, a group in California that manipulated sale prices in Carmel, San Francisco, Marin so that the houses appeared to have sold for 2 to 3 times of their asking price, getting the loan, apparently 86 times, and now skipping off to the south Pacific.

[ related topics: Bay Area moron California Culture ]

comments in ascending chronological order (reverse):