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Real Estate Fraud

Soapweed

Well-known member
Recently, our good friend Michael (a local realtor) shared his experience
with Leisa and me about an "Obama supporter" a black lady he encountered while
showing homes to a low income, working family in Pontiac, MI. We asked him to
please write it down so we could share it with you.
******************************

As a Realtor for the past 28 years I thought I’d seen or heard it all.
Until now...

I was showing homes in Pontiac, MI. one afternoon recently and showed up
at a home at the 4:00 pm time my appointment was scheduled for. After I
woke up the homeowner, she let us in and then proceeded to tell my buyers
and me that she has already entered into a contract to sell the home on a
short-sale. (A short-sale is a sale where the banks accepts less money than
is owed on the home).
After some chit-chat, she proceeded to tell us that she and her sister (who
also lived in the area) were buying each other's homes via the short sale process.
I mentioned to her that I thought that relatives could not be involved in those kinds of transactions.
She smiled and said "We have two different last names so no one knows the difference".

She went on to tell us that each of them owed over 100K on their homes and
were in the process of buying each other’s homes for about 10-15K cash. To
top it off, they were each receiving $3,000.00 in government provided
relocation assistance at the closing.

My buyers and I were amazed that she was outright admitting to fraud and
yet, she continued. She began to tell us that the best part of her scheme
was that because they currently were not working that they (both) are now
receiving Section 8 Vouchers. I said I thought those were for renters and
she said that’s the best part; me and my sister are going to be renting each
other’s homes so we don’t even have to move, and Obama is going to give
us each $800.00 a month to pay the rent!

She then picked up a picture she had framed of Obama and did a little
happy dance around her living room and while she kissed the picture
she was singing "Thank you Obama.... thank you dear Obama."

So here is the bottom line: Both of these scammers got at least $80,000.00
in debt forgiven, $3,000.00 in cash for relocation (when in fact they did
not relocate) and to boot, you and I will now be paying (through our
taxes) $1,600.00 in rent for them each and every month.... perhaps forever!

And I also would not be at all surprised if they are receiving food stamps
and whatever other programs are available for anyone who is willing to
lie to get assistance.

These women went from working and paying about $900.00 each in mortgage
payments to staying home and getting paid $800.00 each per month to live in
the same home they had been living in and all they had to do was lie on a
few papers. This craziness has to stop! I’m sure this kind of fraud is
going on each and every day all across the country and no one wants to touch the
subject of entitlements because they might OFFEND someone or lose a vote or two.

By the way ... she had an almost new SUV in the driveway, three flat screen TV's and a
very nice computer set up in her living room which was furnished entirely with nice leather furniture.
 
A

Anonymous

Guest
Whitewing said:
http://www.snopes.com/politics/business/shortsale.asp

Probably false.

Don't do that...You will ruin another rightwingernuts good conspiracy story... They can't stand that when their conspiracy bubble is broken....That makes them call folks all kind of nasty names and go on personal attacks- because they know not what else to do...
Especially when its one they try to personalize and stand behind... You note how Soap made it out to be a good personal friend relaying this info ( that has been flying around the internet for sometime).... :roll: :wink: :p :lol:

Recently, our good friend Michael (a local realtor) shared his experience with Leisa
 

Mike

Well-known member
Oldtimer said:
Whitewing said:
http://www.snopes.com/politics/business/shortsale.asp

Probably false.

Don't do that...You will ruin another rightwingernuts good conspiracy story... They can't stand that when their conspiracy bubble is broken....That makes them call folks all kind of nasty names and go on personal attacks- because they know not what else to do...
Especially when its one they try to personalize and stand behind... You note how Soap made it out to be a good personal friend relaying this info ( that has been flying around the internet for sometime).... :roll: :wink: :p :lol:

Recently, our good friend Michael (a local realtor) shared his experience with Leisa
It's very obvious to me that Soapweed copy and pasted the article by the use of the wife's name......i.e. "LEISA AND ME". You and I both know that's not his wife's name.

He didn't attempt to make it personal, only you are that much of a lowlife.

Are you really as stupid as you seem? :roll:
 

Big Muddy rancher

Well-known member
Oldtimer said:
Whitewing said:
http://www.snopes.com/politics/business/shortsale.asp

Probably false.

Don't do that...You will ruin another rightwingernuts good conspiracy story... They can't stand that when their conspiracy bubble is broken....That makes them call folks all kind of nasty names and go on personal attacks- because they know not what else to do...
Especially when its one they try to personalize and stand behind... You note how Soap made it out to be a good personal friend relaying this info ( that has been flying around the internet for sometime).... :roll: :wink: :p :lol:

Recently, our good friend Michael (a local realtor) shared his experience with Leisa

"Local" in Pontiac Michigan Are you that dumb?

Ok you don't have to answer that as we already know the answer. :roll:
 

Steve

Well-known member
Bullhauler said:
I see Mogal took the bait. Usually it is fasterhorses that falls for these things..


OldTimer said:
That makes them call folks all kind of nasty names and go on personal attacks- because they know not what else to do...

Just throw in a nasty name and Bullhauler would have it covered.. :? :p
 

Steve

Well-known member
Especially when its one they try to personalize and stand behind...

Nine Charged in $10 Million Mortgage Fraud Scheme

EWARK—Nine people involved in a long-running, large-scale mortgage fraud scheme that caused losses of approximately $10 million were charged in two complaints with conspiracy to commit bank fraud, U.S. Attorney Paul J. Fishman announced.

Jose Luis Salguero Bedoya, also known as Jose Salguero, 36, of Elizabeth and Verona, New Jersey; Paul Chemidlin, Jr., 41, of Morganville, New Jersey; Delio Coutinho, 50, of Colonia, New Jersey; Joseph DiValli, 44, of Jackson, New Jersey; Christopher Ju, 26, of East Brunswick, New Jersey; Carmine Fusco, 44, of East Hanover, New Jersey; Jose Martins, 31, of Newark, New Jersey; Yazmin Soto-Cruz, also known as Yazmin Soto, 32, of Elizabeth, New Jersey; and Kenneth Sweetman, 32, of Lyndhurst and Nutley, New Jersey, were arrested this morning by FBI special agents.

The defendants mortgage frauds took several forms, including obtaining control of properties through fraudulent “short sale” transactions, short sale flips, and identity theft.

I could get you a great deal on Fusco's boat... but the bank already picked up Divealli's..

is that "personal' enough?



Federal Officials Still Investigating Mortgage Fraud in Wildwoods

Eric Maratea, 27, a house painter from Philadelphia who earns approximately $250 a week, on June 20, 2007 purchased a condominium unit at 2401 Surf Avenue in North Wildwood for $617,000.

On July 31, 2007 Maratea purchased another unit, this one at 337 East 20th Avenue in North Wildwood, for $718,900.

The U.S. Attorney’s Office in New Jersey arrested 11 people last week, including an attorney and a real estate agent in Cape May County, in a case that authorities allege cost lenders $15 million. The U.S. Attorney’s Office in New Jersey on Monday said it is still conducting that investigation and more charges are possible.

Authorities say Lucidi was behind 35 such transactions, most of them in North Wildwood but a few in Pennsylvania. The list of those defrauded include: Bank of America, CitiMortgage, Countrywide Bank, First Magnus Financial, JP Morgan Chase, PNC Bank and Wells Fargo. Authorities said the scheme began in May 2005 and ended in October 2008. Lucidi was charged with conspiracy, wire fraud and money laundering.

Lucidi's boat has a federal forfeiture sticker on it.. not sure when it will be sold... but it was a decent boat... at least it was when I sold it to him...
 

Mike

Well-known member
Another exquisite biatchslap on OT.

The big scam down here is Black tax preparers stealing their customers ID's and having the fraudulent refund check sent directly to them...................

Not only does it cost the Treasury big bucks, but it takes the customers years to straighten out their finances...............
 
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