From The Cary Home Page:
Whoa!
Forty-one people...in 4 states...have been charged in a home mortgage fraud operation!
One of the states is our own home...North Carolina, along with New York, Pennsylvania and Ohio.
Among those arrested are 6 lawyers, 7 loan officers, 3 mortgage brokers, an accountant and an appraiser.
A huge amount of money was involved...lenders were defrauded of $64 million in home mortgage loans.
The crackdown was called "Operation Bad Deeds" by federal agents.
Sadly, uncaught scams like this allow a few people to make millions of dollars at the rest of our expense. I say, let them grow old paying for their greed in prison!
Thankfully, federal, state and local authorities were on top of this massive scheme and "stopped it in its tracks".
Want more details? Check out this article at NewsGeni.us. by Larry Neumeister, Associated Press.
Kwik Kwote: "Impossibilities are merely things which we have not yet learned." --Charles W. Chesnutt
Know Your Real Estate: "DEPRECIATION"...a decrease in the value of property. Some reasons are aging, decreased demand for the property, wear and tear and introduction of factors on or off of the property that pull the value down.
To SEARCH FOR HOMES in the Cary-Raleigh area of North Carolina, visit the Wake County Real Estate Center. Or, email me at tim@timhaag.com. Or, for a no pressure chat, call me at 919.389.7135
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