Any agents experienced anything like this?
In essence, the 2nd lien holders are hitting up agents and even buyers for money to help decrease the costs of their releasing the seller from paying the 2nd lien on the subject property.
Besides RESPA violations, I'm sure there are numerous other crimes being committed by these banks.
I haven't personally seen this in any transaction, but wouldn't be surprised. After the last 24 months, nothing phases me!
Hey Brian,
I don't know how these crooks are still doing these kind of things especially these days, I really can not understand, great blog as always :)
Wow, that is complete fraud. Anyone (banks or individuals) attempting this should be jailed.
It's like robbing someone in broad daylight while everyone's looking, and the bandit, whose face is clearly visible, thinks that no one will ever recognize him.
I agree with all... I don't care if this is GMAC/CITI or a private 2nd lien holder. Anyone doing this should get reported to HUD and slapped with major RESPA fines.
I just can't believe they would actually try to skim a little commission from realtors and money from buyers.
David - This a fraud. I have heard similiar complaint from realtors. Thanks foe sharing a very good blog.
John
Comments(7)