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
Woman Admits Straw Buyer Scheme Paige Kinney, aka JaimeLee Lawler, 42, Phoenix, Arizona, pleaded guilty in two separate cases in federal district court. In one case, Kinney admitted to her leadership role in a $40 million mortgage fraud involving Countrywide Home Loans, and in the second case, s...
06/08/2011
Jury Convicts Man of Straw Buyer Scam John Anthony Spencer, 31, Albertville, Minnesota, was convicted by a federal jury for his role in orchestrating a mortgage fraud scheme that caused losses to lenders exceeding $4.6 million. Trial evidence showed that Spencer brokered fraudulent loans which w...
06/08/2011
5 Indicted for $15.7M Mortgage Fraud Scheme Edward Renko, 49, Glenview, Illinois, who was chief executive officer of the now-defunct EAG Capital Holdings, Inc.-was charged with two counts of wire fraud and one count each of bank fraud and making a false statement to influence the action of a ban...
06/08/2011
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Broker Allegedly Steals Loan Funds John Edward Pitlick, 44, Shoreview, Minnesota, appeared before Chief U.S. District Judge Karen E. Schreier on June 2, 2011, and pled guilty to the indictment that charged him with mail fraud. The maximum penalty upon conviction is 20 years in prison and/or a $...
06/08/2011
Man Sentenced for Mortgage Fraud and Foreclosure Rescue Scam George Eggleston, 65, Las Vegas, Nevada, was sentenced by United States District Judge Lawrence J. O'Neill to six years and nine months in prison, to be followed by three years of supervised release. Eggleston had previously pleaded gu...
06/07/2011
Irvine, California Fugitive Sought in Loan Mod, Refinance Scam James Toufic Assali, 36, Irvine, California, the owner of a Costa Mesa, California-based mortgage refinance company and escrow business, is charged in a large fraudulent rate-lock loan modification scheme targeting mostly out-of-stat...
06/07/2011
Former President of Long Island Real Estate Firm Sentenced in Manhattan Federal Court to 51 Months in Prison for Stealing $1.5 Million in Fraudulent Real Estate Schemes U.S. Attorney's Office June 07, 2011 PREET BHARARA, the United States Attorney for the Southern District of New York, announce...
06/07/2011
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#1170 When we talk about a title which is taken in fee simple we're talking about a title that lasts forever and can be inherited or disposed of according to the owners wishes. Is this true or false ? Take your time. Thye solution is posted below ...
06/05/2011
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#1169 When one considers the four unities of possession, interest, time and title these unities are necessary to create a tenancy in common. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False Posse...
06/05/2011
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#1168 If a title is conveyed and a condition is written into the conveyance stating that no flea market activities may be held on the property this type of title is called a life estate. True or false ? Remember to take your time. The solu...
06/05/2011