Right in Our Own Backyard! Mortgage Fraud.
When I think about Minnesota crime isn't among the things that comes to mind. I was very surprised to read this post on Ron Marshall's blog. Comments disabled please leave your comment on Ron's post.
Uh, oh. Someone has a big bill.
“Two mortgage loan officers who carried out a scheme involving loans on homes in Albertville, Otsego, Elk River and other cities were sentenced to five years in federal prison Monday.”
That is from the St. Michael Patch. Apparently, the loans on the homes went into default. These guys have to pay between $4 to $8 million.
I am pretty sure I couldn’t come up with that kind of cash.
Has you scratching your head, doesn’t it?
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