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Wednesday, May 14, 2008

FBI 2007 Mortgage Fraud Report

by Tanta on 5/14/2008 07:49:00 AM

I didn't think there was anything particularly earth-shattering in this report, but I did think some of you might be amused by this:

According to the FBI:
The above photos are from condos that were involved in a mortgage fraud. The appraisal described “recently renovated condominiums” to include Brazilian hardwood, granite countertops, and a value of $275,000.
It does make you wonder whether some of these reports of pre-foreclosure "trash outs" don't involve a few properties that were trashed from the get-go.