- Sign of the Times: Wichita developer hit with foreclosure lawsuit
- Market Analysis: Boom bust cycles in real estate, stocks and dollar shows stocks are headed for a massive fall in 2007
- Bubble Wrap: Government data show more criminals – and more consumers – lied to sell or buy expensive homes.
- Consumer Watch: Foreclosure ‘rescue’ scams are on the rise
- Real Estate Marketplace: Home buyers gain power with recent drop in mortgage interest rates
- Industry Insight: Housing market has builders on edge
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It’s not just home buyers and sellers that are lying–the biggest liars I’ve run across are the mortgage brokers. I was personally scammed badly by a mortgage broker who acted like he was are best friend, then refused to answer the phone or messages for months when we really needed him. Essentially he committed fraud, but I don’t know if a court would see it that way or not. I make it a point to be upfront and honest with people I deal with in the foreclosure market. Is it asking to much for other people to act the same way?
Diana, I have to agree with you on that. When I first got into the real estate business, I quickly learned to stay away from mortgage brokers. Unfortunately, any broker now has to go through my own personal “honesty checklist” which last for a minimum of 6 months to a year…unless they are an admirable friend of mine or family member, I just won’t deal with them.
This is the questions, what constitute real estate fruad,misrepresentation,or bad faith. What types of things are suppose to be disclosed when selling a property? If tenants are behind in the rent? Do you have to tell the buyer before closeing or after?How do you know if financials for the property have been misrepresented?How can a property appraise higher before repairs are done,then major repairs like almost new kitchens,all new baths. A market analysis is done,an it comes back lower then the purchase price. A hundred thousand more or less. It is an investment property 6 units nice neighborhood. Can you explain this puzzle for me. Happy Holidays,Thank you
i live in toronto ont . i need 2 to 3 months more time to find a home for my family they all are treating me like a criminal please help i had a bad agent please help.