Here is an article that may help you to be aware about real estate deals. Recently, the Orange County Attorney And Real Estate Agent Coviceted For $8Million Mortgage Fraud and now serving their sentence to the jail.
From Imperial Valley News.
S
an Diego, California – United States Attorney Laura E. Duffy announced that after a one-week trial, a federal jury in San Diego convicted Carlsbad real estate agent Aida Agusti Castro and her son, Orange County attorney Stephen Kenneth Chrysler, of multiple counts of wire fraud for their roles in an $8 million mortgage fraud scheme involving 16 separate homes in Oceanside, Escondido, San Marcos, Lakeside, and Menifee.
After the jury returned its verdict, United States District Court Judge Jeffrey T. Miller remanded both defendants into federal custody pending their sentencing, which is currently scheduled for July 30, 2012 at 9:00 a.m.
Stephen K. Chrysler, an attorney and loan broker licensed with the California State Bar and California Department of Real Estate, was the owner and CEO of SKC Real Estate in Carlsbad, California. His mother, Aida Agusti Castro, was a licensed salesperson with the California Department of Real Estate, an officer of SKC Real Estate, and worked as a real estate agent for the company. Evidence at trial proved that between 2005 and 2007, the two defendants created 30 separate false loan applications, along with other fraudulent supporting documents, that they submitted to mortgage lenders in order to obtain over $8 million in mortgages to unqualified borrowers, including:
It is indeed a big bust after the Orange County Attorney And Real Estate Agent Coviceted For $8Million Mortgage Fraud just few days ago. With this article, hope that this will serve as a warning to everyone who are planning to engage in the real estate industry.
Home foreclosures are picking up again in St. Louis, although the rate remains below the levels of a year ago.
The foreclosure crisis, which has caused around 4 million people to lose their homes, has wreaked havoc on many neighborhoods. Foreclosed homes drag down property values when they swell the housing supply and sell at below-market rates. These bank-owned homes also can erode the character of communities by attracting all manner of blight as they sit unoccupied.
With all the bank reo property that banks are trying to unload these days, there are ways to position your marketing and investing to pick them up in BULK.
1143 S Loop Blvd, Lehigh Acres
Attracted by super affordable prices, buyer walk-in traffic is up and tons of prospective homebuyers are kicking tires across the nation during this spring sales season. Inventories are at record lows, which should strengthen prices if you believe in supply and demand. So why are sales plummeting and prices not rising as hoped?
That’s better!
The Bay Area is seeing more improvement than other markets nationwide, but its lack of inventory is a problem, according to Rick Turley, president of Coldwell Banker Residential Brokerage for the San Francisco Bay Area. Turley recently told Silicon Valley agents they need to educate their clients about the real story behind their local markets.
A new report out by Fitch Ratings says that short sales, long dreaded by borrowers while much maligned by realtors and lenders, may have a big impact in getting the U.S. real estate market back on its wobbly feet.
Short sales outnumbered foreclosure sales in 12 states in January, indicating that more homeowners are finding an easier way out of a distressed home loan.