short sale flip: IS SHORT SALE FLIPPING CRIMINAL ACTIVITY? - 06/12/10 02:44 AM
Short sale flipping is again a hot topic because Sergio Natera and Anna McElaney, two Connecticut real estate brokers, are scheduled to be sentenced in Hartford's federal court in August after pleading guilty to fraud. Their crime involved persuading lenders to approve short sales of homes -- without disclosing that there were better offers -- and then flipping the houses for a profit.  I last wrote about this problem 2 years ago in SHORT SALE FLIP - QUESTIONABLE METHODS.
 In the Connecticut case, Regions Bank in April 2008 agreed to a short sale of a Bridgeport house for $102,375, unaware that … (21 comments)

short sale flip: SHORT SALE FLIPS - TITLE INSURANCE PROHIBITED - 06/08/09 01:31 PM
The short sale flip apparently is alive and well for some investors - and it is causing havoc with title insurance underwriters.  Now the title insurance underwriters are making their case simply by declaring that they won't insure such transactions.
This decision is not surprising. As pointed out in SHORT SALE FLIP - QUESTIONABLE METHODS, some investors have seen the reluctance amongst knowledgeable (and ethical?) title insurance agencies to question and usually refrain from being involved in such transactions. The result was the new "twist" of using one title closing agent (and underwriter) for the initial sale and another title closing agent (and … (76 comments)

 
Richard Zaretsky, Florida Real Estate Attorney (THE ZARETSKY LAW GROUP - Board Certified Real Estate Atty and AUTOMATED LAND TITLE COMPANY)

Richard Zaretsky

Florida Real Estate Attorney

West Palm Beach, FL

More about me…

THE ZARETSKY LAW GROUP - Board Certified Real Estate Atty and AUTOMATED LAND TITLE COMPANY

Address: 1615 Forum Place, Suite 3A, West Palm Beach, Fl, 33401

Office: 5616896660 x 107

Mobile: (561) 329-2279

Legal true life experiences, general observations and commentaries for Realtors, Lawyers and Mortgage Brokers - also see our Palm Beach County Short Sales group blog.
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