There are countless property crooks who caused the subprime fiasco. The enclosed is one such case.

Tom and Vanessa L. Buddhasiri are husband and wife of 2341 W. 229th Place, Torrance, CA 90501-5237, Los Angeles County. Their son’s name is John John (J.) Buddhasiri. They all lived together at this address since 1995, when they purchased this house for $260,000.

As shown in the public property title report, they took out a total of $600,000 in 2005 and 2006. Shortly thereafter, they stopped making mortgage payments. It was a well-planned and staged process. Many months later, the bank finally foreclosed the property on 07/19/2007. It had been easy for the Buddhasiris to refinance mortgage since they had connections in the mortgage business.

When the real estate market eventually bottoms out, the buddhasiri’s will use the “free” money they ripped off from the banks to buy another home at the rock bottom price. They will then repeat the same mortgage game again as the property value rises.

The Buddhasiri’s are career property criminals. Before Torrance, they ripped off the banks in Redondo Beach, before Redondo Beach, in Carson. Notice Tom Buddhasiri’s (the father) name is not on the Torrance property loan refinance history.

It was only after the bank foreclosed their Torrance house that the bank realized how the Buddasiri’s operated to refinance on inflated appraisal values.

Before each refinance, the Buddhasiri’s would inflate the appraised value with beautiful landscape, new paint, new windows, new French doors…, etc. Their son-in-law learned to do construction in the military. Together, the family beautified their house for the refinance appraisals.

They did their last refinancing on 05/11/2006 when the real estate market was at its peak. They knew they would not be making loan payments for very long and began planning to move. They took time to remove the beautiful landscape, including trees and plants out of the property, and anything of value that could be removed. The front and back yards were left with raw dirt and holes where the trees and plants were. There were huge indentations in the dirt from large planter pots which the contents were never planted and intended to be removed. An added goodbye message to the bank was the deep scraping marks in the living room wooden floor.

The Buddhasiri’s will make their next free money fortune on the next real estate market cycle. Stay tuned and watch them screw the credit and banking systems again. Waiting out 7 years to clear their credit history is not so bad of a deal for gaining hundreds of thousands of dollars.

Concerned Citizens and Tax Payers