this thing is huge, 412 investors? assuming an average of 5 properties each, that’s 2000 homes. The newest update from nctimes reports $1.2 billion dollars worth of mortgage fraud. $1.2 billion/2000 homes = average price of $600,000 per home, that makes sense. 2000 homes and each overappraised for a $80,000 profit, that’s $160 million dollar of profit from this fraud case alone.
you would think UT or LA Times would be breaking this, but instead is a little regional paper?
it is just mortgage fraud… if FBI doesn’t care, why should we…
