So is that the only party that loses out in a fraud like this? The lenders? Or does it go deeper than that? Don't transactions like this affect how other homes are priced and ultimately prop up the median for even longer? And won't taxpayers ultimately have to foot the bill of this type of conduct? I'm sure there is a lot more to this that I am not seeing. This is all the more reason why real estate needs to be kept in a transparent database and subject to true, open-market conditions. Shady, back-room real estate market dealings have gone on long enough in my opinion.
