Wow...what are we going to deal with now???? Yet another stumble in the real estate world looking at people with kickbacks trying to move property. We see it everywhere..prepaid interest, closing costs, association fees, guarantees on rental...you name it, it happens. But the question is what is legal? Take a few minutes to read the article below and you can see why more and more people are becoming a bit scared of the real estate business as a whole and why it's so important to know whom you are dealing with!!! Hence www.InvestSmarter.com to help make sure that everyone is on the same sheet of music and on the up and up!!!
Daily Real Estate News June 20, 2008
Hundreds Charged in Fraud Sweep
More than 400 people in the real estate industry have been indicted since March, including dozens in the last two days, in a U.S. Justice Department/Federal Bureau of Investigation crackdown on mortgage fraud.The FBI says the scams cost home owners and other borrowers more than $1 billion.Since March 1, 406 people have been arrested in the sting dubbed "Operation Malicious Mortgage," resulting from 144 cases across the country. Sixty people were arrested on Wednesday alone. Officials have identified 10 "mortgage fraud hotspots" nationwide in California, Colorado, Texas, Minnesota, Michigan, Illinois, Ohio, New York, Georgia, and Florida.Named in the cases were housing developers, mortgage lenders and brokers, lawyers, real estate practitioners and appraisers, says Sharon Ormsby, section chief in charge of financial crimes for the FBI.Source: The Associated press, Lara Jakes Jordan (06/19/08)
www.Destin-Florida-Condominiums.info is here to help you find the best value for your money and keep you pointed in the right direction without setting you up for situations like above!!!
Come visit the Destin Condo Market today and see what else is out there in reference to Destin Condos and the Florida Condominium market.
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