David Saks' Blog

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Industry Observer - TN LIC# 290452
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. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2011 

Facebook is a dangerously out-of-control social networking environment full of voyeurs, cretins and lurkers looking for indecent relations. It includes many less-than-savvy commerce-concerned users trying to get rankings in Bing, Google or other search engines through the application of fast met...
10/04/2011
Promoter of Christian Rock Concerts Pleads Guilty to Federal Wire Fraud Charge in $1 Million Ponzi Scheme U.S. Attorney’s Office October 04, 2011 Central District of California (213) 894-2434 SANTA ANA, CA—The owner and operator of a Downey firm has pleaded guilty to wire fraud in a scheme that ...
10/04/2011
I posted this almost four years ago. I wanted to share it with you once more now that it's lost in the queue.                                               Dr. Schweitzer defined ethics as follows: "Ethics is a name we give to our concern for good behavior. We feel an obligation to consider not o...
10/03/2011
                                                       #1340 For hypothetical purposes, a home is located in a low closing cost area of a state and it's selling for $400,000. It was appraised at $410,000. The FHA max ceiling for the loan is $390,000. The maximum amount that the buyer would be abl...
10/03/2011
                                                            #1339 A buyer wants to finance the purchase of a duplex with an FHA loan. The buyer may do this only if the intention is to rent out both of the units. Is this fact true or false ? Please take your time. Te solution is posted below the w...
10/03/2011
                                                       #1338 The Federal Housing Administration not only insures the loans it sells, but it buys them also. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False The Federal Housing Administrat...
10/03/2011
                                                          #1337 Secondary financing of a property may always be used to cover the minimum cash investment of the borrower as long as the sum of the two loans exceed the properties value. Is this fact true or false ? (puhleeez, you better not miss th...
10/03/2011
                                                      #1336 If secondary financing is used in alignment with a conventional loan it may never be partially or fully amortized with a balloon payment. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo...
10/03/2011
                                                        #1335 A man is applying for aconventional loan with an LTV of 90%. He has a monthly income of 3000 dollars a month. His total monthly recurring debt obligations equal 500 dollars. What is the maximum monthly mortgage payment that this buyer ...
10/03/2011
                                                        #1334 When we talk about a 2-1 buydown plan we're talking about buying down the interest rate at 1% for two years. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False A 2-1 buydown pl...
10/03/2011
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David Saks

Broker / Industry Analyst
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Most real estate fraud-related articles and Department of Justice Press Releases published here are taken from the public record, which normally include press releases and court documents related to each entry and case. Any other type of record, i.e. newspaper reports, are only published after consent has been obtained from the original publisher.
Nothing will be published that has not been verified via the public record or consent provided.
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