Comments on: Senate Looks To Allocate $200 Million For Real Estate Fraud Prosecution http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/ Real Estate Blog, Mortgage, and Development News Fri, 19 Mar 2010 18:52:41 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: David Harbin http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/comment-page-1/#comment-414953 David Harbin Tue, 01 Dec 2009 13:33:05 +0000 http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/#comment-414953 The Title Insurance industry has been monopolized for years. They have forced most of the Mom and Pop companies out of business or bought them out due to the Coercion of Business that the Banks have been practicing, with their Board and Attorney approval for decades. Major Banks provide space JUST for Major Underwriters and their branches. The consumers do not get a choice. Everything is directed. How can there be balance when the party doing the loan closings is not impartial or representing the Buyer/Seller/Borrower in any way? This money for fraud investigation is probably a politial ploy and all they will do is hire the crooks to investigate themselves. They will do an ongoing investigation that goes nowhere.....again. They must hire impartial independent thinkers to do this investigation or it will be scewed.....and we DO need the work. The Title Insurance industry has been monopolized for years. They have forced most of the Mom and Pop companies out of business or bought them out due to the Coercion of Business that the Banks have been practicing, with their Board and Attorney approval for decades.

Major Banks provide space JUST for Major Underwriters and their branches. The consumers do not get a choice. Everything is directed.

How can there be balance when the party doing the loan closings is not impartial or representing the Buyer/Seller/Borrower in any way?

This money for fraud investigation is probably a politial ploy and all they will do is hire the crooks to investigate themselves. They will do an ongoing investigation that goes nowhere…..again.

They must hire impartial independent thinkers to do this investigation or it will be scewed…..and we DO need the work.

]]> By: Panamaed http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/comment-page-1/#comment-414945 Panamaed Tue, 01 Dec 2009 01:58:21 +0000 http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/#comment-414945 The Title Insurance industry has been monopolized for years. The same companies that are doing the credit and background on the borrowers, titles, ect.... are controled by these same companies. The wolves are guarding the hen houses. What do you suspect? The Title Insurance industry has been monopolized for years. The same companies that are doing the credit and background on the borrowers, titles, ect…. are controled by these same companies.

The wolves are guarding the hen houses.

What do you suspect?

]]> By: Chris Robinson http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/comment-page-1/#comment-414190 Chris Robinson Wed, 07 Oct 2009 18:19:40 +0000 http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/#comment-414190 I agree that these people need to be stopped. Much of the fraud that has gone on out there has gone unpunished. I myself was made a victim when I first got into buying apartments and there seemed to be no where that I could turn to get any help. Many of these people have elaborate schemes put together so that the person that is being played may not even now that they have been scammed. They may just think that they had bad luck in a legitimate investment. Next I would like to see the government put together a task force to stop people from sending me spam in my inbox all the time. These people seem to be way to concerned with my virility. :) Chris Robinson Real Estate Investor/Mentor/Speaker I agree that these people need to be stopped. Much of the fraud that has gone on out there has gone unpunished. I myself was made a victim when I first got into buying apartments and there seemed to be no where that I could turn to get any help.

Many of these people have elaborate schemes put together so that the person that is being played may not even now that they have been scammed. They may just think that they had bad luck in a legitimate investment.

Next I would like to see the government put together a task force to stop people from sending me spam in my inbox all the time. These people seem to be way to concerned with my virility. :)

Chris Robinson
Real Estate Investor/Mentor/Speaker

]]> By: Matthew Rathbun http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/comment-page-1/#comment-413827 Matthew Rathbun Mon, 05 Oct 2009 00:39:56 +0000 http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/#comment-413827 Only one question... The "bandit" graphic - is that Congress or the Loan Fraud-ers? Sometimes I have issues telling the difference. Only one question… The “bandit” graphic – is that Congress or the Loan Fraud-ers? Sometimes I have issues telling the difference.

]]> By: Portland Real Estate http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/comment-page-1/#comment-412999 Portland Real Estate Wed, 30 Sep 2009 22:22:15 +0000 http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/#comment-412999 Well I hope they catch them, and I really hope that the courts punish them. For some reason this sort of fraud seems to be punished fairly inconsistently. The guys who steal the most money end up just getting a slap on the wrist or a few years at most in a comfy prison. It's just like the Enron guys, they all got off really easily compared to what they deserved. -Tyler Well I hope they catch them, and I really hope that the courts punish them. For some reason this sort of fraud seems to be punished fairly inconsistently. The guys who steal the most money end up just getting a slap on the wrist or a few years at most in a comfy prison. It’s just like the Enron guys, they all got off really easily compared to what they deserved.

-Tyler

]]> By: Bob http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/comment-page-1/#comment-412970 Bob Wed, 30 Sep 2009 17:33:13 +0000 http://www.therealestatebloggers.com/2009/09/30/senate-looks-to-allocate-200-million-for-real-estate-fraud-prosecution/#comment-412970 It is amazing how brazen some of these people are. I wish theyt would also go after the poeple stripping houses before the bank forecloses on them. We have seen situations where a person living in a home that is being sold "Short" has systematically removed everything during the time they are living there and by the time it closes there is no less than $100,000 worth of damage or stolen fixtures. In one case that we were representing the buyer on we wanted to check on the house and were told that the seller did not want anyone to come through, even though we were in escrow. When we finally were able to get in, the house had been stripped and the seller had a brand new BMW SUV in the garage. It is amazing how brazen some of these people are. I wish theyt would also go after the poeple stripping houses before the bank forecloses on them. We have seen situations where a person living in a home that is being sold “Short” has systematically removed everything during the time they are living there and by the time it closes there is no less than $100,000 worth of damage or stolen fixtures. In one case that we were representing the buyer on we wanted to check on the house and were told that the seller did not want anyone to come through, even though we were in escrow. When we finally were able to get in, the house had been stripped and the seller had a brand new BMW SUV in the garage.

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