Comments on: Short-sale scam means losses for lenders

By: "what" web » Short Sale What It Means

"what" web » Short Sale What It Means — Sun, 31 Oct 2010 02:58:38 +0000

[...] 11.Short-sale scam means losses for lenders « Daily Journal of … Aug 26, 2010 … Short-sale scam means losses for lendersDaily Journal of CommerceAnd with any good thing in real estate, investors are looking to take … http://djcoregon.com/news/2010/08/26/short-sale-scam-means-losses-for-lenders/ [...]

By: Andrew Holiday

Andrew Holiday — Fri, 27 Aug 2010 23:40:45 +0000

While the Government is working towards a Federal program for Principal Reduction only from a FHA loan… The private sector already has the solution for people over 120%+ LTV. If you haven’t heard about it yet click this link or copy and past it in your address bar. http://www.realestatesecretstoday.com/principal_reduction.php for information about what is happening today, results people are getting and how to qualify. We have a network of Lenders who have the system to do a short Refinance to get your loan reset back down to today’s market value.

By: John Weldon

John Weldon — Fri, 27 Aug 2010 19:52:00 +0000

After re-reading the article it looks like the Agent was in fact employed by (or at least supposed to be acting on behalf of) the bank…

By: John Weldon

John Weldon — Fri, 27 Aug 2010 05:08:29 +0000

How is this a scam?

It sounds like sound brokerage business to me.

I think there may be a conflict of interest if the Agent is employed by the bank, which the article hints at, but if the agent is not supposed to be acting on behalf of the bank then this strategy seems legit.

Can someone help me understand what I’m missing?

By: House Flip Site - Realty Flipping Guide » Short-sale scam means losses for lenders - Daily Journal of Commerce

Fri, 27 Aug 2010 02:13:22 +0000

[…] Short-sale scam means losses for lendersDaily Journal of CommerceAnd with any good thing in real estate, investors are looking to take advantage of it. CoreLogic, a California-based real-estate data company, released data …and more » […]