A large lender got stuck holding a $250,000 bad
debt on this property in Atlanta.
A large mortgage company got stuck with a
bad loan on this property in Atlanta.
A large mortgage company got stuck with a
bad loan on this property in Atlanta.
This property in Chicago was the subject of a
condo-conversion scheme. The suspect
bought
the
apartment building to convert to six-unit condo
and
sold them for $100,000 each. The appraiser
(now indicted) appraised them as if the renovations
were
finished. In fact, they were never done.
This property in Chicago was the subject of a
condo-conversion scheme. The suspect bought
the apartment building to convert to six-unit condo
and sold them for $100,000 each. The appraiser
(now indicted) appraised them as if the renovations
were finished. In fact, they were never done.
In a Detroit flipping scheme, the house with white
siding was bought for $19,000 and sold the
same day
for $112,000 (the appraised value). The appraisal
did not contain photos; it was justified by using the
four-bedroom brick home as a comparable listing.
In a Detroit flipping scheme, the house with white
siding was bought for $19,000 and sold the same day
for $112,000 (the appraised value). The appraisal
did not contain photos; it was justified by using the
four-bedroom brick home shown above as a
comparable listing.
This house is an example of a manufactured housing
scheme. The house was represented as owner
occupied, but investigators discovered the house
was never occupied, as seen by the absence of a
front deck or driveway.
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