Tuesday, April 11, 2006

Homeless Man Gets Five Fannie Mae Loans In Florida

Check out the story about the Homeless Man Gets Five Fannie Mae Loans In Florida. D*mn. The fraud needs to be investigated and prosecuted.

How widespread is the mortgage fraud?

2 comments:

  1. How did this guy get a mortgage on a house that is uninhabitable. I tried to buy a rehab property in Baltimore to make my permanent residence. I was told that I couldn't get a conventional mortgage on it because it had no kitchen. The lender told me to get a construction loan, then install a new kitchen, and after inspection, I could refinance into a conventional.

    I would go buy a place tomorrow in Baltimore if it werent for these restrictions. I wish I knew of a lender who will give me a 30 year fixed on an uninhabitable Baltimore crackhouse.

    ReplyDelete
  2. Actually he didn't get five Fannie Mae loans... He got five loans and Fannie Mae purchased them from whomever he got them from.

    And actually only one in the story is reported as being currently held by Fannie Mae...

    ReplyDelete