Livingston, New Jersey
0 comments
Not resolved

kelley wife liz kelley are involved in strawbuying in houston.They are under investigation for mortgage fraud Indictments Handed Down in Houston Straw Buyer Scheme/Rod Kelley+Liz Kelley+davidyoungteam.com rod kelley and liz kelley involved in straw-buying.

Oldest couple reported to be involved in this type of case. They will spend the remaining years of their life behind bars. Grandma and Grandpa strawbuying scheme with david young team. Houston, Texas.

Look at all of his last properties and you will see the all foreclosed. Property value dropping but him in his wife with coldwell banker(memorialdrive) all involved in strawbuying. Appraiser on the run. A Houston Grand Jury handed down indictments on eight individuals for a series of mortgage fraud scams in the Houston, Texas area, involving close to 300 properties valued at approximately $40 million.

Most of the fraudulent transactions involved finding a straw buyer with a high credit score, and persuading that person to purchase one or more properties. The perpetrators would obtain a phony appraisal that was significantly inflated. Because of the buyer's favorable credit score, their loan would be approved with minimal scrutiny by the lending institution. Once the sale went through, the scam artist would pocket the difference between the selling price and the inflated loan amount by charging consulting fees, remodeling fees, or other service charges that would be disbursed at the closing by the escrow officer.

The unsuspecting buyer would then be stuck with a mortgage that was much higher than the true value of the property. In many cases the buyer was promised that the property would be leased and the mortgage payments would be made, only to find that the property was left unoccupied and the buyer?s credit damaged by nonpayment. rod kelley wife liz kelley are involved in strawbuying in houston. They are under investigation for mortgage fraud Indictments Handed Down in Houston Straw Buyer Scheme/Rod Kelley+Liz Kelley+davidyoungteam.com Another variant of the straw buyer scam involved identity theft and the use of stolen personal information to arrange the purchase of property.

In these instances the victims were not even aware of their involvement until they got calls from creditors about missed payments. rod kelley wife liz kelley are involved in strawbuying in houston.

They are under investigation for mortgage fraud:rod kelley wife liz kelley are involved in strawbuying in houston.They are under investigation for mortgage fraud Indictments Handed Down in Houston Straw Buyer Scheme/Rod Kelley+Liz Kelley+davidyoungteam.com Indictments Handed Down in Houston Straw Buyer Scheme/Rod Kelley+Liz Kelley+davidyoungteam.com

Review #180503 is a subjective opinion of a user.

PRODUCT OR SERVICE Not specified
Reason of Review / Monetary Loss Not specified / $500
Preferred solution Not specified

Had an Experience with David Young Team?

Write a review

Comments

Comment as anonymous or
Terms of Service
Post Comment
Cancel
Be the first to start a discussion

You May Also Like