Paper Money updates on what he calls the 'Gangsta Broka' who is "a member of the well known south side Chicago gang the “Gangster Disciples”, ran a mortgage fraud scheme that ripped off "unsophisticated" home buyers for hundreds of thousands of dollars." We knew that significantly more fraud was being commited during the bubble years then during non bubble years. Let's not forget Casey Serin, the poster boy for mortgage fraud who blog about his pastfraud at I Am facing Foreclosure Blog.
Patrick.net Photoshop Extravaganza! Don't Miss It!
Do big cash bonuses sell homes? (NJ Report) There is even a downloadble spreadsheet with cash bonus offers from craigslist. Here is one example: "$20,000 BONUS to SELLING AGENT for full price offer!!!!! $10,000 towards the BUYER’S CLOSING Costs"
Pacific Beach Housing Bubble does a tremendous job writing abotu the local market. How about the deluded flipper who has this property.
Purchase price (03/04): $749,000
Asking price: $1,400,000
Expected appreciation: 87% in 20 months
Ya right will you be able to sell it for that price. Keep drinking the financial kool aide!
From Newsweek: David Leareah says "You'd have to go back to the Great Depression to find a housing period that is this unique." Thanks to one reader who found this gem.
Wednesday, November 15, 2006
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