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
2013
New Defendant Charged in Alleged Fraud on the Philadelphia Sheriff’s Department U.S. Attorney’s Office June 26, 2013 Eastern District of Pennsylvania (215) 861-8200 PHILADELPHIA—Gerard Joseph, 36 years old, of La Jolla, California, is charged by indictment, unsealed today, with conspiracy and ...
06/26/2013
There are plenty of people trolling ActiveRain and playing it for points like a pinball machine. I'm not one of them. I post the FBI releases to let the community at-large know that there are dangerous criminals in the real estate business. Lots of them ! Read the Legal Disclaimer to the right. B...
06/26/2013
The Immortal Peggy Lee Sings "Mr Wonderful"Enjoy ! -David-
06/25/2013
(FBI and Department of Justice Press Releases are not copy and pasted and published for points. Please read the legal disclaimer to the right.) Former Executive at Florida-Based Lender Processing Services Inc. Sentenced to Five Years in Prison for Role in Mortgage-Related Document Fraud Scheme...
06/25/2013
U.S. Dept. of Housing and Urban Development U.S. Census Bureau Office of Public Affairs Manufacturing and Construction Division HUD AND CENSUS BUREAU REPORT NEW RESIDENTIAL SALES IN MAY WASHINGTON – Sales of new...
06/25/2013
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Comments
#2240 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...
06/23/2013
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#2239 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...
06/23/2013
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#2238 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...
06/23/2013
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#2237 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...
06/23/2013
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#2236 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...
06/23/2013