From the category archives:

Real Estate Fraud

Blogs

An Inflated Appraisal Scheme With A Twist

by Richard Warren | May 11, 2009

Most people have heard of schemes in which a lender is defrauded by someone who uses an inflated appraisal to obtain a loan for much more than a house is worth. This type of scam generally requires the cooperation of several people. In addition to the person running the scam you need an appraiser who [...]

4 comments Read the full article →
Commentary

Creating a Mortgage Fraud Law with Some Bite – A Thought Experiment

by Joshua Dorkin | May 4, 2008

I was just reading an article about how Mortgage Fraud is now a specific crime in Missouri, but couldn’t help but think to myself whether or not this law goes far enough. While I haven’t read the law itself, a $2,500 fine and/or jail is just not going to cut it. The loans [...]

3 comments Read the full article →
Commentary

California "Mortgage Fraud Scam" May Be Tip Of The Iceberg, Says State Attorney General Jerry Brown

by Charles Feldman | March 19, 2008

First came the subprime mortgage crisis; now comes the cases of alleged fraud.
An amazing story Tuesday out of Southern California where the state attorney general has busted an alleged mortgage scam that may have bilked thousands of SOCAL homeowners out of millions of dollars.
And, California Attorney General Jerry Brown told me, in some cases, signatures [...]

7 comments Read the full article →
Foreclosures

The Farce of Foreclosure Rescue (scams)

by Michael Creel | March 12, 2008

It’s become commonplace to see advertisements of all type promoting some new foreclosure rescue company that is the savior of those in distress and about to lose their home. These companies appear to have all the answers to the distressed homeowners mortgage issues, and for absolutely free, they will save you and get those nasty [...]

12 comments Read the full article →
Commentary

U.S. Senate Plans to Consider "Foreclosure Rescue Scam" Legislation. Its Time to Speak Up, Investors!

by Jim Watkins | February 28, 2008

Time to Speak UP!

The following information is about what the U.S. Senate is up to. If any of this becomes law, it will have a direct and severe impact on my business.
There are very good and honest investors out there and BiggerPockets has been a great place for new & seasoned investors to get together [...]

4 comments Read the full article →
Economy

Massachusetts Senate Proposes Mortgage Fraud Protection

by Joshua Dorkin | July 24, 2007

According to the Associated Press, Massachusetts yesterday endorsed legislation in its Senate to help homeowners faced with the prospect of foreclosure, and to put a stop on fraudulent and harmful practices by the mortgage industry.
Mortgage brokers would have to obtain a license to work in Massachusetts and mortgage fraud would become a felony. The measure [...]

11 comments Read the full article →
New York Real Estate

Can Real Estate Agents Charge a Retainer? Don’t ask the National Association of Realtors!

by Joshua Dorkin | March 30, 2007

Earlier today I read a discussion about someone in New York City who was looking for a real estate buyers agent to help them find a co-op. In their search, they found a realtor who agreed to help them, but required $495 up front to work with him. I, like many other [...]

10 comments Read the full article →
Real Estate Fraud

Renters: Beware of the Fake Real Estate Agent Scam (video)

by Joshua Dorkin | March 23, 2007

I just saw this and had to share it with everyone. It is REALLY SCARY how easy it is to scam people out of their money that are desparate for housing!

9 comments Read the full article →
Commentary

Real Estate Agent Steals $3 million and Keeps Her Real Estate License

by Joshua Dorkin | January 23, 2007

Last week we talked about the emergence of the selfless real estate agent. Today, we’re going to look at a piece of dirt who makes the rest of the agents out there look bad.

A real estate broker in Shakopee, Minnesota was charged with with 15 felony counts of identity theft; in addition, she [...]

16 comments Read the full article →
Commentary

Now We Can’t Even Trust Our Real Estate Lawyers?

by Joshua Dorkin | January 11, 2007

It seems like I’ve been on a bit of a roll today, highlighting many of the downsides of the real estate world. Sadly, there is just more bad news to tell you about.
Apparently an attorney in Westchester, New York was arraigned today for stealing almost $100,000 owed to her client, a homeowner [...]

7 comments Read the full article →
Economy

Real Estate Dispatch – Christmas Eve Edition – 12/24/06

by Joshua Dorkin | December 24, 2006

Welcome to the Christmas Eve Edition of the Dispatch! I’ve got a little time, so I just wanted to share some headlines I found to be interesting . . .

The Kansas City Star picked up on the recent foreclosure report from the Center for Responsible Lending and discusses Foreclosure rise forecast: Nearly one in [...]

0 comments Read the full article →
Economy

Real Estate Dispatch – 12/10/06

by Joshua Dorkin | December 10, 2006

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 [...]

4 comments Read the full article →
Real Estate Fraud

Beware of Real Estate Scammers Rushing You to Sign

by Joshua Dorkin | September 29, 2006

In a story released today by USA Today, we learned about a new fraud that had been taking place in Virginia, where investors were tricked into signing documents to purchase properties that had been appraised at inflated values.
Countrywide Financial, who is suing the man who allegedly orchestrated the fraud, Robert Penn, “claims the [...]

9 comments Read the full article →
Copyright © 2004-2009 BiggerPockets, Inc. All Rights Reserved.
BiggerPockets® is a registered trademark of BiggerPockets, Inc.