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subprime: How Much Should Realtors Be Fined for Their Part in the Subprime Lending Crash? - 01/02/08 05:42 PM
Recently, a Think Tank began discussing the lack of Integrity in the Real Estate Industry and what percentage of blame was deserved where. Most Realtors blame the mortgage industry; the brokers, companies and the abundance of bad loans on properties during an unsustainable and irrational exuberance rise in home prices. Sure, that makes sense, everyone wishes to shift responsibility and it is hard to deny that the mortgage industry made some huge errors in judgment for some quick short-term gain.
Nevertheless, let us look at the Realtors and their part in all of this. Realtors either knew or should have known that … (68 comments)

subprime: Real Estate Law and Knowing What You are Signing - 12/28/07 10:59 PM
Real Estate Law is a lot more complicated than it has ever been in the past. Now when you sign a brokerage agreement with a realtor instead of 1 page or 2 pages it is 14 pages? That is just for the listing. Why is it so long? Well that is nothing compared to all the other forms involved and they just keep getting bigger due to all the laws, bureaucracy and lawyers. Everyone is so busy trying to cover themselves and their rear ends from every known or potential eventuality.
It is a giant game of 100s of pages of What … (2 comments)

subprime: The Realities of Foreclosures and Fraud - 12/28/07 09:10 PM
Many banks and consumers are claiming fraud when it comes to the subprime mortgage problems, and yet we need to ask ourselves how much is really due to fraud. The New York Times did an interesting piece on this, it had a few examples of how at least some of the fraud was committed, as appraisers, mortgage brokers, and others were in cahoots.
On the consumer, side folks are saying that they were duped into taking loans that they did not understand or that were not properly explained to them. They claim that the mortgage broker deceived them and purposely held … (5 comments)

 

Lance Winslow

Malibu, CA

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The Car Wash Guy

Address: 74-478 Hwy 111, Palm Desert, CA, 92260

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Mr. Winslow uses the Active Rain Real Estate Industry Blog, to discuss issues that affect the Real Estate sector of our economy. His dialogues include such things as; droughts, subprime lending fallout, building materials, living off the grid, sales ethics, commercial property, crime, revitalizing downtowns, economic development, community volunteerism, and predicting the future of the real estate markets in the United States.


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