Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    The Top "Main Street" Mortgage And Real Estate Scams Of The 21st Century
    The Top "Main Street" Mortgage And Real Estate Scams Of The 21st Century
    The Top "Main Street" Mortgage And Real Estate Scams Of The 21st Century
    Ebook156 pages1 hour

    The Top "Main Street" Mortgage And Real Estate Scams Of The 21st Century

    By D Lance Roberts

    3/5

    ()

    Read preview

    About this ebook

    In the year 2008, the entire United States Economy nearly collapsed due to the complete meltdown of the Housing Market. This was brought on by an incredible display of greed, fraud and corruption on all levels. The actions of those on Wall Street and it's abuse of the Housing Market have been well documented in the media. The downfall of giants such as Bear Sterns and Lehman Brothers is well known. However, much less attention has been paid to Main Street. The Top Mortgage and Real Estate Scams of the 21st Century, exposes the greed, fraud, corruption and scams carried out by those on Main Street - Real Estate Agents, Loan Officers, Investors, Mortgage Brokers, Title Companies, Appraisers, Builders, Loan Modification companies, and Loan Servicing companies.
    While the fraudulent practices of those on Wall Street have been well documented, as incredible as it seems many have gotten off without prosecution. On the other hand, convictions for those on Main Street occur daily, with many of those involved being sentenced to long jail terms. The Top Mortgage and Real Estate Scams of the 21st Century details the specific scams used by Real Estate Agents, Investors, Mortgage Brokers, Title Companies, Appraisers, Builders, Loan Modification companies, and Loan Servicing companies to defraud millions, and documents their subsequent arraignments and convictions.

    LanguageEnglish
    PublisherD Lance Roberts
    Release dateMay 20, 2012
    ISBN9781476335186
    The Top "Main Street" Mortgage And Real Estate Scams Of The 21st Century
    Author

    D Lance Roberts

    . Lance Roberts has been involved in various aspects of the Real Estate/Mortgage arena. Over the past 10 years he has been a licensed Real Estate Agent, A Mortgage Originator working with Mortgage Brokers as well as Direct Lenders, worked in Loan Servicing, Asset Management and Loss Mitigation. After witnessing the incredible amount of greed and fraud that led to the demise of the housing industry, D. Lance Roberts noticed that most of the coverage, and rightfully so, was focused on Wall Street. On the other hand, very little attention in the media has been paid to Main Street’s “contribution”. On top of the irony is Main Street characters are being prosecuted and sentenced daily; Wall Street; nothing.

    Related to The Top "Main Street" Mortgage And Real Estate Scams Of The 21st Century

    Related ebooks

    Business For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      SEC Investigates Cryptocurrency Offerings

      Mar 1, 2018

      The Securities and Exchange Commission has sent dozens of subpoenas in recent months to cryptocurrency companies that promote "initial coin offerings."

      1 min read

    • Article

      PROTECT Yourself From Online Fraudsters

      Jul 12, 2020

      The world is currently a scary place. South Africa is facing massive levels of unemployment and people’s daily routines have been disrupted by the Covid-19 coronavirus pandemic. This has caused heightened levels of anxiety. Criminals are aware of thi

      3 min read

    • Article

      Equifax Data Breach Settlement: What You Need to Know

      Jul 24, 2019

      If you're one of the roughly 147 million people whose sensitive personal information was exposed in the 2017 Equifax data breach, get ready to claim your share of the relief. The credit bureau has agreed to a settlement of up to $700 million with the

      4 min read

    • Article

      Beware Of Rape Scams

      Dec 19, 2020

      A PHONE call from a policeman claiming he could make a rape charge go away for a couple of thousand rand has become the latest go-to scam for con artists around the country. The modus operandi is simple, as a 25-year-old Durban man discovered on Reco

      3 min read

    • Article

      How to Build a Credit History

      Oct 3, 2019

      Most lenders expect you to have a decent credit record to qualify for a loan or credit card. But if you've never had a credit card or taken out a loan, you don't have much of a credit history. It's a conundrum that young people face as they begin the

      4 min read

    • Article

      Dark Web Criminals Cash In On Covid

      Apr 10, 2021

      AS SOUTH Africa prepares to roll out its mass Covid-19 vaccination programme, security experts have warned there is a thriving black market for vaccine certificates, fake negative Covid test results and even vaccines on the Dark Web. Cyber threat ana

      3 min read

    • Article

      Crooks Using New Schemes to Steal Your Identity

      Jul 6, 2018

      Julie Conroy, a research director at Aite Group, a financial services research firm, specializes in fraud and money-laundering issues. What is synthetic ID theft? Criminals fabricate new identities to open fraudulent lines of credit, typically by com

      1 min read

    • Article

      Another Epidemic to Worry About: Identity Theft

      Jun 5, 2020

      Identity thieves are increasingly using stolen information to hijack their victims' accounts, a costly type of fraud that's expected to increase as the COVID-19 pandemic forces more Americans to work and shop online. The number of victims of account

      1 min read

    • Article

      Understanding The Nuance Of Unit Title Ownership

      Apr 28, 2022

      Unit title ownership typically relates to high-rise commercial and residential buildings, but it can also apply to stand-alone houses which may or may not adjoin each other. Buying a unit title is the same as buying a house in that it has its own tit

      3 min read

    • Article

      Equifax To Pay Up To $700 Million In Data Breach Settlement

      Jul 22, 2019

      The credit reporting agency will pay up to $700 million in fines and monetary relief to consumers over a 2017 data breach that affected nearly 150 million people.

      2 min read

    • Article

      When Zombie Debt Collectors Chase Written-Off Debts

      Jan 4, 2019

      Chances are that you have never heard the terms Zombie Debt or Zombie Debt Collectors. Neither had former United States Marine Lt. Charles Lay until the first week of October 2018, when he received this phone call: "Superior Court calling, and we w

      5 min read

    Related categories

    Reviews for The Top "Main Street" Mortgage And Real Estate Scams Of The 21st Century

    3/5

    1 rating1 review

    What did you think?

    Tap to rate

    Review must be at least 10 words

    • 3/5
      do you have any blank documents to use? If not, how do I get the blank documents to file at the court

    Book preview

    The Top "Main Street" Mortgage And Real Estate Scams Of The 21st Century - D Lance Roberts

    THE TOP MORTGAGE AND REAL ESTATE SCAMS OF THE 21ST CENTURY

    D. Lance Roberts

    Copyright 2011 by D. Lance Roberts

    Smashwords Edition

    This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each reader. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

    TABLE OF CONTENTS

    CHAPTER 1 - HOW DID WE GET HERE ?

    CHAPTER 2 - WHERE ARE WE NOW ?

    CHAPTER 3 - THE PLAYERS

    CHAPTER 4 - SCAM # 1-THE IDENTITY THEFT SCAM

    CHAPTER 5 - SCAM # 2-THE STRAW BUYER SCAM

    CHAPTER 6 - SCAM # 3-THE SIGN YOUR DEED OVER TO ME SCAM

    CHAPTER 7 - SCAM # 4-THE TEMPORARY RENTAL AGREEMENT SCAM

    CHAPTER 8 - SCAM # 5-THE FAKE EMPLOYMENT/INCOME VERIFICATION SCAM

    CHAPTER 9 - SCAM # 6-THE STATED INCOME SCAM

    CHAPTER 10 - SCAM # 7-THE CUT AND PASTE SCAM

    CHAPTER 11 - SCAM # 8-THE LOE SCAM

    CHAPTER 12 - SCAM # 9-THE INFLATED APPRAISAL SCAM

    CHAPTER 13 - SCAM # 10-THE BLANK AUTHORIZATION SCAM

    CHAPTER 14 - SCAM # 11-THE RENT OUT A HOME YOU DON’T OWN PART 1

    CHAPTER 15 - SCAM # 12-THE RENT OUT A HOME YOU DON’T OWN PART 2

    CHAPTER 16 - SCAM # 13-THE W-2 MACHINE MAKER SCAM

    CHAPTER 17 - SCAM # 14-THE DUAL AGENCY SCAM

    CHAPTER 18 - SCAM # 15-THE APPLY TO SEVERAL BANKS AT ONCE SCAM

    CHAPTER 19 - SCAM # 16-THE CONSULTANT FEE SCAM

    CHAPTER 20 - SCAM # 17-THE CREATE A LIEN SCAM

    CHAPTER 21 - SCAM # 18-THE ORIGINATION FEE/BROKER FEE SCAM

    CHAPTER 22 - SCAM # 19-THE AMORTIZATION SCAM

    CHAPTER 23 - SCAM # 20-THE INTEREST-ONLY SCAM

    CHAPTER 24 - SCAM # 21-THE OPTION-ARM SCAM

    CHAPTER 25 - SCAM # 22-THE BUILDER BAIL-OUT SCAM

    CHAPTER 26 - SCAM # 23-THE SELL ONE PROPERTY SEVERAL TIMES SCAM

    CHAPTER 27 - SCAM # 24 THE SELL YOUR HOME WITH TENANTS SCAM

    CHAPTER 28 - SCAM # 25 -THE COLLECT RENT DONT PAY THE MORTGAGE SCAM

    CHAPTER 29 - SCAM # 26-THE CREDIT SCORE SCAM

    CHAPTER 30 - SCAM # 27-THE CASH BACK AT CLOSING SCAM

    CHAPTER 31 - SCAM # 28-THE BAIT AND SWITCH SCAM PART 1

    CHAPTER 32 - SCAM # 29-THE BAIT AND SWITCH SCAM PART 2

    CHAPTER 33 - SCAM # 30 THE GOVERNMENT LOAN MODIFICATION SCAM

    CHAPTER 34 - SCAM # 31 THE LOAN FORENSIC SCAM

    CHAPTER 35 - SCAM # 32-THE HOME EQUITY FLIPPING SCAM

    CHAPTER 36 - SCAM # 33-THE SQUATTER SCAM

    CHAPTER 37 - SCAM # 34-THE ELIMINATE YOUR MORTGAGE IN 1 YEAR SCAM

    CHAPTER 38 - SCAM # 35-THE PAY YOUR HOUSE OFF IN 5 YEARS SCAM

    CHAPTER 39 - SCAM # 36-THE SHORT SALE SCAM PART 1

    CHAPTER 40 - SCAM # 37-THE PROPERTY FLOPPING SCAM

    CHAPTER 41 - SCAM # 38-THE BANKRUPTCY TO AVOID FORECLOSURE SCAM

    CHAPTER 42 - SCAM # 39-THE FICTITIOUS DOWN PAYMENT SCAM

    CHAPTER 43 - SCAM # 40-THE PLAY THE MARKET SCAM

    CHAPTER 44 - SCAM # 41-THE CHARGE THE LOCK PRICE BUT DON’T LOCK SCAM

    CHAPTER 45 - SCAM # 42-THE LOAN SERVICING SCAM PART 1

    CHAPTER 46 - SCAM # 43-THE SHORT SALE SCAM PART 2

    CHAPTER 47 - SCAM # 44-THE LOAN SERVICING SCAM PART 2

    CHAPTER 48 - SCAM # 45-THE FHA INSURANCE SCAM

    CHAPTER 49 - SCAM # 46-THE LOAN STEERING SCAM

    CHAPTER 50 - SCAM # 47-THE LOAN SERVICING SCAM PART 3

    CHAPTER 51 - SCAM # 48-THE ROBO-SIGNING SCAM

    CHAPTER 52 - SCAM # 49-THE BRING THE FAKE SPOUSE TO CLOSING SCAM

    CHAPTER 53 - SCAM # 50-THE FAKE REAL ESTATE TAX ASSESSMENT SCAM

    CHAPTER 54 - SCAM # 51-THE REVERSE MORTGAGE SCAM

    CHAPTER 55 - SCAM # 52-THE PRINCIPAL REDUCTION SCAM

    APPENDIX

    Financial Armageddon. The Wall Street Meltdown. The Demise of Bear Stearns. CDO’s, Derivatives. Credit Default Swaps. Hedge Funds. Mortgaged-Backed Securities.

    Ok, perhaps you have heard these terms before. How about this:

    10 Charged for Arizona Mortgage Fraud Scams. Real Estate Attorney Pleads Not Guilty To Falsifying Loan Documents. Lawsuit Filed Against Loan Modification Company. Straw buyers Charged in Mortgage Fraud Scam. Short Sale Fraud Increasing. North Carolina Mortgage Fraud Cell Indicted. 3 Indicted in $16M Straw buyer Scam. Leader of Sub-Prime Mortgage Fraud Pleads Guilty. 86 Residents Charged in Operation Stolen Dream Mortgage Fraud Case.

    What is going on here? The sheer depth of occurrences of Mortgage and Real Estate Fraud; fraud which played a significant part in almost destroying the economy of the United States; is nothing short of mind boggling. What is even more incredible is the fact that even after the almost total collapse of the housing market, the subsequent shutdown of hundreds of banks, and the tightened financial regulations, Mortgage and Real Estate Fraud today is a prevalent as ever!

    The Top Mortgage and Real Estate Scams of the 21st Century examines, uncovers and explains the multitude of various Mortgage and Real Estate scams that have, and are still occurring on the ground level. We have all heard about the Bear Sterns Debacle, The Wall Street Crisis, Derivatives, CDO’s , Credit Default Swaps, Securitization, Hedge Funds and the like. The irony in this is if you pick up a book or read an article on the above mentioned topics you will leave scratching your head. Why? Because this is Wall Street terminology; difficult to understand terminology, purposely created that way by those with the intent to defraud and rob people.

    Once the scam breaks down and the truth comes out, what has actually happened is difficult to grasp and then subsequently place blame, because most do not understand this terminology. If you don’t understand the terminology, you can’t really know what was going on.

    Such is the case with the greed and fraudulent activity on Wall Street as it relates to the housing market. What transpired was very complex, purposely designed that way.

    The average person would have a hard time defining the before mentioned terminology, and it’s functionality in the housing market.

    This story is a little different.

    The Top Mortgage and Real Estate Scams of the 21st Century expose the extreme fraudulent, and unfortunately very common, practices that take place on the street level. Not WALL STREET, MAIN STREET. We are talking about the local real estate offices, the mortgage broker shops, the title companies, the appraisal companies, the loan servicing companies, home owners, and builders. This book is written in main street jargon.

    I have been in the Mortgage/Real Estate Industry for the past 10 years and the amount of fraud, scams and schemes that exist in this industry is totally incredible. I would like to say that I have seen just about everything; however, as this book goes to print, more mortgage and real estate fraud is surfacing.

    This book exposes the top Scams in the Mortgage and Real Estate Industry.

    CHAPTER 1

    HOW DID WE GET HERE?

    To truly understand this current crisis it’s important to understand what led up to it. Prior to the Real Estate Bust came the Dot-Com Bust.

    The Dot-Com bubble was a stock market bubble which popped to near-devastating effect in 2001. It was powered by the rise of Internet sites and the tech industry in general, and many of these companies went under or learned some valuable lessons when the bubble finally burst. Many investors lost substantial sums of money on the dot-com bubble, helping to trigger a mild economic recession in the early 2000s.

    Several factors combined to cause the dot-com bubble, which is usually defined as the period of investment and speculation in Internet firms which occurred between 1995 and 2001. 1995 marked the beginning of a major jump in growth of Internet users, who were seen by companies as potential consumers. As a result, numerous Internet start-ups were birthed in the mid to late 1990s. These companies came to be referred to as "dot-coms.

    Many of these companies engaged in unusual and daring business practices with the hopes of dominating the market. Most engaged in a policy of growth over profit, assuming that if they built up their customer base, their profits would rise as well. Many dot-coms also expended a great deal of energy in market domination, attempting to corner the bulk of customers for a particular need.

    Investors responded to daring business practices with money; lots of it. The American stock market rose dramatically during the dot-com bubble, with hundreds of companies being founded weekly, especially in tech hot spots like the Silicon Valley near San Francisco. Many people associate lavish lifestyles with the dot-com bubble, since companies regularly sponsored exclusive events filled with fine food and entertainers. At conferences and events focusing on the tech industry, the combined entertainment costs were sometimes counted in hundreds of thousands of dollars.

    Unfortunately for many companies and investors, the growth of the tech sector proved to be illusory. Numerous high profile court cases targeted tech companies for unscrupulous business

    Enjoying the preview?
    Page 1 of 1