Washington DC foreclosures.


I am in Washington DC helping the owners of a very large building to solve the fraud perpetrated by a large band of Straw-Buyers who purchased the apartments and flipped them at double the price, most of the closings were fraudulent by intention, many of the loans were predatory in nature, the wages of the borrowers were botched up to reflect that the borrowers were making much more money that they actually were, the Truth in Lending  statements were incorrect, the appraised value of the properties were very inflated by intention to fool the buyers as to the facts of the true value of the properties.

Some borrowers were charge very high prepays, the closing statements were all incorrectly tabulated to get as mush money out of the borrowers as possible.

The brokers and sellers deliberately mis represented the actual property descriptions of the apartments so that the fraud could never be detected and litigated, all of the promissory notes were destroyed.

All of the ” Loans ” were placed in securitized trusts, some were pre-sold into the trust, others were put in after 60 days of the closing of the trust, the large amounts of the apartments were added into the trust years after the closing of the trust.

I am finding that none of the loans I have seen so far have any parity with the alleged ” Lender ”

up dates coming

Advertisements

About Here and Now

I rant about issues concerning foreclosure, real estate law and any topic of interest. Normally my day job is Fashion and Costume Design. I like writing and reading interesting subjects.
This entry was posted in Uncategorized and tagged , . Bookmark the permalink.