Archives for Real Estate Scams

Real Estate Scam of the Day: Time Share Telemarketing Scam Uncovered

Timeshares, which many investors consider to be something of a scam even when they are handled legitimately, are now the latest twist on the old “send money for shipping” scam that has plagued Craig’s List for years. Now, however, the scammers are calling and pretending they’re looking to sell. Confused? So are the 23 Illinois victims of a timeshare real Read full article »

Real Estate Scam of the Day: Fake Mortgage Broker Targets Hispanics, Pockets Money

A California real estate “broker” whose license had been suspended since the mid-90’s has been charged with seven felony counts of grand theft for posing as a real estate broker and essentially “pocketing” money from Spanish-speaking victims who believed that he could help them do real estate deals. Arthur Gonzales Diaz marketed his services nearly exclusively to Hispanic would-be real Read full article »

Real Estate Scam of the Day: Multi-Year, Multi-Property Scam Comes to a Close

A Massachusetts man was arrested yesterday on eight counts of wire fraud, but the actual real estate scam he was running is much, much more complicated, involving two condo buildings, multiple straw buyers, falsification of documents and down payments and fraudulent loan applications. The alleged perpetrator of the fraud, Prince Charles Eweka (his real name), faces 20 years in prison Read full article »

Real Estate Scam of the Day: Mortgage Scammer Turns “Professional Thief”

After a Maryland real estate agent lost her license in 2007 due to a series of mortgage fraud allegations, she turned to other methods for making money – like pretending to have cancer and collecting donations for “chemo” and the fulfillment of her “dying wishes”. Dina Leone is a former real estate agent living in Maryland. Last week, she was Read full article »

Loan Modifications: These Companies Demonstrate What NOT To Do

Chicago’s Mortgage Fraud Task Force has targeted and stalled illegal loan modification operations by 11 local companies thanks to complaints from a mortgage counseling agency. The Brighton Park Neighborhood Council reported that families on the Southwest side of the city were being courted by and paying thousands of dollars to the 11 companies before the actual loan modifications were even Read full article »

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The Politics of Real Estate

Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.

Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.

About Bryan Ellis

Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.

Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.

Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.