David Saks is a musician, retired real estate broker, and long-time ActiveRain member.
David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet.
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ARCHIVED BLOG POSTS
2011
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#1173 Two property owners, Ben and Susan, who are not married, own a property together. Susan actually owns 75% of the property and Bob owns a 25% interest in the property. Becasue they own the property together and have unequal interests the t...
06/13/2011
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#1172 When property is transferred from one owner to the next this process is referred to as devise. Is this true or false ? Please take your time. The answer is posted below the wildlife photo. A. False When real property is transferred from one...
06/13/2011
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#1171 When we consider participation in a REIT, a real estate investment trust, it is necessary to have at least 325 participants according to the legal statute. Is this considered true or false ? Take your time on this tough question. The answer ...
06/13/2011
Former Treasurer and President of Taylor, Bean & Whitaker Each Sentenced to Prison for Fraud Scheme U.S. Attorney's Office June 10, 2011 WASHINGTON-The former treasurer and the former president of Taylor, Bean & Whitaker (TBW) were sentenced today to 72 months in prison and 30 months in prison,...
06/10/2011
I'm posting a link below for Joplin's main source of information to the world, KZRG Radio. You can phone the radio station at 417-782-1310 if you need information about loved ones, friends and call in your support. Click this link to listen live: KZRG The main page is http://www.1310kzrg.com ...
06/09/2011
West Haven Man Sentenced to Five Years in Federal Prison for Role in Mortgage Fraud Scheme David B. Fein, United States Attorney for the District of Connecticut, today announced that THOMAS GALLAGHER, 68, of West Haven, was sentenced yesterday, June 7, by Chief United States District Judge Alvin ...
06/08/2011
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Loan Processors Sentenced in Mortgage Fraud Scheme Kirk H. Kirby, 40, Capital Heights, Maryland, and Sholonda Y. Johnson, 39, Philadelphia, Pennsylvania, were sentenced to 60 months and 30 months in prison, respectively, in connection with a real estate investment scheme. Kirby and Johnson plead...
06/08/2011
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Lawyer and Home Owner Break into Foreclosed Home Michael Theodore Pines, 59, San Diego, California, and Rene Hector Zepeda, 72, Newport Beach, California, an attorney and former homeowner were arraigned for attempting to illegally break into a foreclosed Newport Coast, California home. The defen...
06/08/2011
2 Men Sentenced to Prison for Mortgage Fraud Adrian Levale Cole, 40, and Albert Terrance Watkins, 47, both of Houston, Texas, have been sentenced to prison for their roles in a multi-million-dollar mortgage fraud scheme. Cole owned and operated the "fictitious" companies AC Homes and WT Homes an...
06/08/2011
Mortgage Fraud Ringleader Sentenced to Prison Eric Rulack Farrington, 58, Irving, Texas, was sentenced by U.S. District Judge Sam A. Lindsay to 132 months in federal prison for largely orchestrating a multi-million dollar mortgage fraud scheme in the Dallas, Texas area. Judge Lindsay also orde...
06/08/2011