Quote:
Originally posted by Tobra
My buddy's brother in law is about to lose a house because he was sold a house by a realtor/finance guy who did the inspection, acted as realtor and lined up the financing(some crazy ARM, interest only deal)
Lot of shady characters got rich on real property in the last 10 years
|
Many of those types are going to jail for fraud. Agents, Mortgage brokers, Appraisers, and Title agents who participate in fradulent deals are getting caught and prosecuted. It's amazing how reckless so many have been so often. There always will be some shady characters in RE since there is big money to be had in the complicated transactions. The states really need to raise the bar on licensing (especially in CA) and enforce the rules already on the books.