41 Charged in 5 Mortgage Fraud Cases
by alissandria obrien of Preservation Monthly 06/24/2009
....15 individual defendants and four businesses purchased distressed properties, including from the U.S. Department of Housing and Urban Development, and then resold them for fraudulently inflated prices approximately two to three times the purchase price.....
Link to see the full article. http://www.preservationmonthly.com/story_2012.htm
I have blogged on this over and over, each time, I get all kinds of hate mail and personal attacks but, as i have been saying since last year, when this started taking off in my area, it's fraud.
by the way, I am not going to argue with anyone if it is or isn't.....I have contacted my local FBI office and was told that if anyone has a question about this process, they can call them directly and they will help you understand just why it's illegal.