Mortgage Fraud: Unraveled by Ralph R. Roberts  

Leading real estate and mortgage fraud forensic analyst was the first to report the facts to local and federal authorities

 
DETROIT, Aug 27, 2008 /PRNewswire via activerain/ -- Ralph R. Roberts, a nationally known real estate and mortgage fraud forensic analyst and the co-author of "Protect Yourself from Real Estate and Mortgage Fraud: Preserving the American Dream of Homeownership" (Kaplan), is available to talk with the media about the recent mortgage fraud allegations involving Detroit Pistons' basketball player Lindsey Hunter. Roberts -- who is one of the world's foremost experts on spotting and preventing real estate and mortgage fraud -- was the first person to alert local and federal authorities to Bruce McClellan's claims of being defrauded by a scheme that involved Hunter and his company, L&I Enterprises, LLC. "I audit hundreds of real estate files every year, and this file takes the cake," says Roberts, who runs the popular real estate fraud awareness and prevention blog http://www.FlippingFrenzy.com. "If anyone is looking for a trademark signature of mortgage fraud, I think they'll find it here. From fabrication of Bruce McClellan's assets and making outrageous claims about McClellan's guaranteed return on his investment, to making no real attempt to sell the investment property and taking cash back at closing, here we have what appears to be knowingly committed mortgage fraud." As first reported by Crain's Detroit Business (with Roberts' help), the Federal Bureau of Investigation (FBI) and Wayne County (MI) Register of Deeds' mortgage-fraud task force are now investigating the allegations, which involves claims of Lindsey Hunter's company directly involved with the unlawful flipping of houses. During the housing boom, flipping houses was almost a national pastime. Shows like Flip This House, Flipping Out, and Flip That House attracted huge viewing audiences because of the high success rate of the investment strategies involved. Today, however, if you mention house flipping to a law enforcement professional, they are likely to think that you are talking about committing a crime. To them, the word "flip" is a four-letter word. HUD (the U.S. Department of Housing and Urban Development) declared it so when it released its FR (Final Rule)-4615 Prohibition of Property Flipping. "What Lindsey Hunter's company is under investigation for having done ruins lives, destroys neighborhoods, and is calculable in our current mortgage meltdown and housing crisis," says Roberts. "People generally do not commit real estate or mortgage fraud for the sheer joy of ripping off the system, although in Lindsey Hunter's case -- with all the benefits he receives by virtue of playing in the NBA -- if he did it -- then that would appear to be the primary motivation."

Ralph R. Roberts, CRS, GRI
67775 Van Dyke
Washington Township, MI 48095
Office: (586) 751-0000
Fax: (586) 752-8959
Email: RalphRoberts@RalphRoberts.com
Personal Assistant: Lois Maljak (LoisMaljak@RalphRoberts.com )


Ralph Roberts is the author of many books:
- Flipping Houses For Dummies (Wiley Publishing)
- Foreclosure Self-Defense For Dummies (Wiley Publishing)
- Advanced Selling For Dummies (Wiley Publishing)
- Protect Yourself from Real Estate & Mortgage Fraud (Kaplan Publishing)
- Mortgage Myths: 77 Secrets to Save on Home Financing (Wiley Publishing)
- Foreclosure Investing For Dummies (Wiley Publishing)


Ralph also maintains Websites and Blogs:
- www.RalphRoberts.com  (Ralph's real estate company)
- www.FlippingFrenzy.com  (Ralph's blog about Real Estate & Mortgage Fraud)
- www.AboutRalph.com  (Where anyone can learn more about Ralph)
- www.GetFlipping.com  (A resource for house flippers)
- www.KolleenRoberts.com  (a tribute site to Ralph's daughter)