My First Deal? I Got Hosed......

2 Replies

The first deal was a night mare....the broker scammed me into buying a home where she new the owner and he was selling to go back to his homeland of Portugal where they are both from. (broker mistake...she never disclosed that they she new him personally)

 They had the price at the top of the market and was offering a seller second for me to get in so expensively. The broker also prearranged my  mortgage with Ocwen Federal(broker mistake no.2, no prearrangement's with residential loans) variable rate at 6%. Also this bank closed in 2009 for the most fraudulent loans  during the hosing bubble.

The owner staid in the first floor apartment for 6months rent free killing my income on the 3 family home.

This is why i became a broker to never see this happen to anyone on my watch and for my own knowledge and understanding of Real estate Law.

man that stinks! did you do anything to remedy the situation? is it possible to sue?

I ended up selling the property to the Broker that sold it to me.....I ended up selling the property to the broker that sold it to me....I don't know if that was part of the scam or what?

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