Real estate fraud happens all the time, but team fraud involving the lender, agent, and borrower is a new one even to this team at Really Rotten Realty. In Kansas City, that exact event took place. Continue reading
Some Crooked Agents Aren’t Agents At All
Just because they look like a real estate agent and act like a real estate agent does not make them an agent. In fact, they may be one of America’s crooked agents, or just someone posing as one. Some fraud victims learned the hard way that John Patrick Ingar was not a landlord, but a man posing as a Realtor to make a quick buck. Continue reading
San Diego Real Estate Investor Pleads Guilty
A San Diego real estate investor pleads guilty to five counts in federal court. The investor, 32-year-old Mazen Alzoubi, admitted to conspiracy to commit mail and wire fraud charges, aggravated identity theft charges, and conspiracy to launder money charges, among others. Continue reading
Ohio Realtor Gets 18 Months in Agent Fraud Case
Rotten real estate agents are a dime a dozen, but usually the unethical actions do not end up with time behind bars. In this agent fraud case, however, the agent ended up right where she belongs: in jail. Continue reading
Buyer Wants out of Serial Killer House
Buying a new home is exciting, but requires spending some time on due diligence. As part of the deal, your agent should do some checks into the history of the property. Sometimes that brings up deaths, criminal activity, and other undesirable history. Other times, it brings up nothing, until it is already too late. Continue reading
Real Estate Agents Tricked in Connecticut
This site has hosted its fair share of fraud stories, but the victims are usually outside of the real estate community. Not this time. In this fraud case, real estate agents fell victim to the bad guy. Continue reading
Banks Foreclose without Papers
A foreclosure is pretty much the worst situation a homeowner can go through. It is stressful, embarrassing, and incredibly difficult to lose a home. Because of this, the government has created extensive regulations regarding foreclosures. These consumer protections are very important and do a lot of distressed homeowners. However, they only work when the banks actually follow the rules. Continue reading
Foreclosed Family Returns
When you buy a foreclosed home, it comes with some risks. You expect some damage and repairs. You expect that there may be some mess to clean up from the former occupants. However, you do not typically expect the former owner to show up at your home, or worse. Continue reading
For Sale by Owner Horror Stories
Some owners have great real estate experience, but others are just trying to save a quick buck by skipping out on hiring an agent. If you are looking at a for sale by owner property, make sure you are protecting yourself by working with an experienced agent. Continue reading
The Surviving Real Estate Agents
How many real estate agents is too many? At the peak of the 2000s housing bubble, the National Association of Realtors grew to 1.4 million members. Does the United States really need 1.4 million real estate agents? Continue reading
Mortgage Fraud Leads to Eviction
Refinancing a home should be a straightforward process. You get a new loan, pay off the old loan with the proceeds, and maybe pocket a few dollars in the process.
That is what nursing aide Imogene Hall had in mind when she needed to tap her home equity for $50,000 to help pay bills in between jobs. The home, which she had bought for $80,000, was now worth quite a bit more, so she decided to use the asset to help her get through some tough times in the bottom of the Great Recession. Continue reading
Sex Offenders Lower Property Values
Few people think of themselves as judgmental, but everyone wants to keep their family safe, and that requires some judgments. Megan’s Law, a 1994 law that makes sexual offenders register in a public database, has proven to leave a clear impact on real estate prices. Continue reading
Some Agents Should Lose their Real Estate License
If someone gets hit with a lock box, the attacker belongs in jail, not on the street selling real estate. However, the Minnesota Department of Commerce decided a seven month suspension was plenty for this dangerous agent.
Not only did agent Bill Bernier, a licensed real estate agent in Minnesota, beat a client with a lock box, he also violated a restraining order and threatened employees of a Saint Paul based inspection company. Continue reading
Some Real Estate Agents You Just Don’t Mess With
Most real estate disputes are over ownership and terms for residential and commercial property. However, sometimes other real estate is the subject of a dispute. A real estate investor in was so heated in an argument over a parking space that he shot and killed another man in Tennessee. Continue reading
Are Realtor Lockboxes Safe?
A string of lockbox thefts came to an end when Arkansas police arrested Amanda Tester, an executive at Cooperative Arkansas Realtors Multiple Listings Services. One would hope that a licensed real estate agent would do the right thing, but readers of this site know that not all agents are as trustworthy as they would lead us to believe. Continue reading