real estate fraud: Be Careful of Fraudulent Short Sales - 04/11/10 01:43 PM
The California Department of Real Estate say it has been alerted to cases of fraudulent short sales.  The Department of Real Estate is issuing warnings about fraudulent short sales.  As reported in The Orange County Register today by Kelli Hart.
Short sales using straw buyers.  The majority of this type of sale is by an unlicensed person who wants to flip the property.  In some cases they use a short sale facilitator who looks for homes that are on the verge of foreclosure and persuades the lender to accept a low offer.  This is usually done using straw buyers, questionable or … (3 comments)

real estate fraud: Local Real Estate Agent, Appraiser Convicted. As Seen By A Mission Viejo Realtor - 08/12/09 11:06 AM
The Orange County Register printed a story by Mathew Padilla today about Lila Rizk of Trabuco Canyon, and Kyle Grasso for conspiracy, bank fraud and loan fraud charges for their roles in mortgage fraud scheme.  The fraud led to more than forty-million in losses according to the Justice Department.
Grasso was convicted of three counts of money laundering.
The pair were part of a scheme that obtained inflated mortgage loans on luxury houses, with both parties getting paid, commissions, fees and other charges.  The jury found them guilty of the crimes.
Eight others were found to be involved and pled guilty:
… (2 comments)

 
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Tim Lorenz - 949 874-2247

Mission Viejo, CA

More about me…

TIM LORENZ of Keller Williams Realty

Address: 27101 Puerta Real, Suite 150, Mission Viejo, CA, 92691

Office Phone: (949) 282-2521

Cell Phone: (949) 874-2247

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A real estate professional and investor for over 43 yrs look at the market, the laws, the trends and the condition of the market. A runing commentary of one persons professional's opinion.


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