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Mortgage Fraud to Me - Liars Loans - Sellers “Contribution”
By admin | June 18, 2009
Confessions of a Realtor - Real Estate Whistleblower: Mortgage Fraud to Me - Liars Loans - Sellers “Contribution”
Mortgage Fraud to Me - Liars Loans - Sellers “Contribution”
Liars Loans they called them whereby you got to State Your Own income. These loans were Perfect for many consumers who could NOT otherwise afford a home. the Problem was they were Fraud but over looked on PURPOSE.
Sellers Contributions Contributed to FALSE Data in the MLS, Sellers Contribution was NOT consistently taken into affect in appraisals, in My Opinion. How could they be really, they were not really disclosed in the MLS, and NO ONE looks at the settlement statement to make sure everything is accurate. That would be asking to much of the VOICE OF REAL ESTATE.
So a Sellers contribution of vary money, and sometimes big money would mean that the purchase price was actually lower. This contributed HUGELY to overinflated real estate. Who cares, the Buyer got in, The Realtor got paid, the Seller got their money. So what is the Big Deal?
Topics: REAL ESTATE FRAUD |
