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HomeFraudulent ‘Flopping’ of Homes
Posted by Larry Doyle on June 10th, 2010 11:21 AM |
As day follows night, financial fraud follows economic distress. God forbid people try to make an honest living as opposed to seizing opportunities to make a dishonest buck. This financial artifice is on display in the short sales of homes throughout our country.
Bloomberg highlights this fraudulent activity in reporting, Banks Face Short-Sale Fraud as Home ‘Flopping’ Schemes Spread:
Two Connecticut real estate agents found a way to profit in the U.S. housing bust: Buy low, sell fast. Their tactic was also illegal. (more…)
Tags: Anna McElaney, California Department of Real Estate, Fannie Mae, fraud in house flopping, Freddie Mac, HAMP, house flopping, how to flop a house, mortgage modifications, Neil Barofsky, payoffs and kickbacks, Sergio Natera, short sales and home flopping, what is house flopping
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