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The Naked Truth About Mortgage Loan Fraud

March 8, 2009 | Comments | Mortgage

http://www.MortgageSelfDefense.com Jim Cramer has been hollering all along about the abuses in this industry that have led to the mortgage market meltdown. So much of it stems form loan fraud. Buyers, Investors, Mortgage Companies, Appraisers all have a hand in it to some degree. If they…

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Comments

There are 13 comments for this post.

  1. mannyfeseha on March 8, 2009 9:57 am

    thehelpfund.blogspot

  2. MacksYasgur on March 8, 2009 9:57 am

    I also agree as bellow. You do more harm by spewing this crap. Learn what flipping is. It is not illegal. Fraud is illegal. Flipping is not fraud.

    Jeff

  3. jacksge on March 8, 2009 9:57 am

    I agree with a previous post, flipping is not illegal. Violation of the Truth In Lending Act is illegal. An investor can sell a property for whatever the market dictates its value to be, not an appraiser. A diligent loan underwriter should know whether or not a value has been inflated by reviewing the appraiser’s comps. If the comps support, and validate the contract price, no laws have been broken. Trouble comes when there is not full disclosure by all parties of a transaction.

  4. lakeseminole on March 8, 2009 9:57 am

    Very good learning experience. Thank you.

  5. slobomotion on March 8, 2009 9:57 am

    Yes, the PROCESS does occur when you go through a notary in France, but it is not known as title search as such and per se.

  6. msanchez007 on March 8, 2009 9:57 am

    There IS title search in most of Europe.

  7. RU4REALLALA on March 8, 2009 9:57 am

    Get your facts straight before posting another misleading video. I’m sure you mean well, but for the people who don’t fully understand the mortgage industry and it’s terminology, it can be very confusing. That’s why its important for people to shop around, compare and ask questions.

  8. plenty2say on March 8, 2009 9:57 am

    This was a very informative video.

  9. slobomotion on March 8, 2009 9:57 am

    I have, and I bless you. Carry on. I train English, and it is hard for others from other cultures to understand “us.” Think of that. Carry on with the good work. I am for you all the way.

  10. slobomotion on March 8, 2009 9:57 am

    Foreign investors in real estate, beware. Title search by individuals is unknown in many countries, such as in Europe. Think and investigate, people. The concept of title search as possible to do by individuals in the USA is not understood by everyone. Peace.

  11. CreateYourOwnMLM on March 8, 2009 9:57 am

    Thank you for the suggestion…and I will. I hope you learn something valuable from these. Have a great day.

  12. slobomotion on March 8, 2009 9:57 am

    Speak more slowly. A lot of people who listen to this are not English mother tongue. Best to you!

  13. brownsthenewwhite on March 8, 2009 9:57 am

    This video claims that flipping is illegal. This is a lie. Flipping is illegal only if fraud is involved.

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