We recently uncovered a massive fraud in how some banks are handling short sales…
There has been a disturbing trend recently of lenders asking for back-channel, secret deals in order to approve a short sale on a home. These lenders ask that these payments not disclosed on the HUD statement, intimidate agents and home owners, and even say up front that if the payments are disclosed, they will stop the short sale from proceeding.
This is how banks do business? How are we to find our way through the mess?
Is up to us to police those actions and report them. . . .there is no way I would allow my client to be obligated to something outside the HUD
@fernando - I couldn't agree more. The problem is that to date the actions haven't been reported. CNBC is airing our interview today on the subject, hopefully it will create some positive change in the banking industry.
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