Mortgage Fraud In Dallas?

Posted on June 20th, 2008 10:51am by Candy Evans
Filed under Real Estate

Wonder if any of this is local? I know a Realtor told me she had to testify in an FBI probe of one home buying scheme where the buyers got a loan, took out a ton of money over and above the sales price to fix the home up, then skipped town with the money never to be heard from again. It is, of course, idiots like that (my opinion) who ruin it for the rest of us when we want to buy a house and grab an extra $15,000 in the mortgage to replace hot water heaters and paint. Opinions? Knowledge? PS: Bear Stearns? Wouldn’t touch that with a 22 ft. pole…

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DallasDirt is a daily discussion and dissention of the Dallas-Fort Worth real estate market, led by D Home Real Estate Editor Mary Candace Evans with contributions from real estate experts and aficionados. Topics include house porn, hot neighborhoods, hot agents, hip pockets, celebrity listings, second homes, vacation homes, real estate trends, data analysis, tips for buying, selling, or staying put. If DallasDirt were a house, it'd be a three-bedroom, two-and-a-half-bath ranch transitional on a quarter acre lot with stainless kitchen and granite countertops: sophisticated with designer touches, room for expansion. Make an offer.
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