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what is going on?

jodywy

Well-known member
During the nasty storm the other day I got playing around on the Counties Record site . I was looking at who or whom (LLCs) that have bought some property close to me. I then look at the Secretary Of State web site to find who was or who registered the LLC.
Well I noticed that some properties were changing hand every few months to different LLCs , but the LLCs but the people were the same. Then later on they would change to another LLC who would then mortgage title back to one of the earlier LLCs, any where from $1 million to $5 million depending on the size of the property and the mortgage was only for one year.
The mortgage deeds was a easy way to find who held the LLC.
Any thing look fishy to anybody.
One of the main players did some federal time for an insurance scam here a few years ago.
 

Texan

Well-known member
Sounds fishy to me. Here's a good website about flipping:

http://www.flippingfrenzy.com/about_flippingfrenzy/index.html
 

nr

Well-known member
Texan said:
Sounds fishy to me. Here's a good website about flipping:

http://www.flippingfrenzy.com/about_flippingfrenzy/index.html

Very interesting- I'd never heard of flipping. We did hear of one widow who decided to sell her home and downsize to a smaller home. She sold then bought a smaller place and moved in only to learn later that the seller didn't own the house.
There was no way for her to get her money back after the deal and she lost everything practically including the roof over her head. Sad. Buyer be- ware.
 
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