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Short Sales, Foreclosures, and Homes for Sale in Glendale, Peoria, Phoenix, Surprise, Arizona

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Real Estate Agent with Keller Williams Realty Professional Partners

Big Banks Accused of Short Sale Fraud


Here's what's not legal and what's apparently happening quite often recently. Since many second lien holders are getting very little, they are now allegedly requesting money on the side from either real estate agents or the buyers in the short sale. When I say "on the side," I mean in cash, off the HUD settlement statements, so the first lien holder doesn't see it. Click here to read entire article.

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Tiffany Torgan
Harcourts Prestige Properties of La Jolla - La Jolla, CA
Featured on HGTV's New Show! How Close Can I Beach

If anything is done "out of escrow" there is something wrong! I always believe that it all needs to go through escrow to protect everyone involved!

Mar 29, 2010 09:02 AM
Tiffany Torgan
Harcourts Prestige Properties of La Jolla - La Jolla, CA
Featured on HGTV's New Show! How Close Can I Beach

Thanks for posting this. It really leaves the homeowner confused on why even bother with doing a short sale at all if the banks will not negotiate an out for the struggling homeowner.

Mar 29, 2010 09:21 AM
John Puplava
ABC Home Inspections,L.L.C. - Prescott, AZ
ABC Home Inspections,L.L.C.

Hi Doreen,

If i could help you in any way as Home Inspector. Please Call me.

John With ABC HOME INSPECTIONS

602-471-7384

Sep 02, 2010 05:33 PM
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