Tag archives for straw buyer

Real Estate Scam of the Day: Alabama Real Estate Scam Mastermind Pleads Guilty

Lance Collins of Baldwin County, Alabama, pleaded guilty yesterday to conspiracy to commit mail and wire fraud. Based on prosecutors’ response – they agreed to recommend leniency and have agreed to a 6-month delay in sentencing – it appears that he plans to cooperate in revealing just how he “defrauded mortgage lenders by submitting false loan applications and settlement statements Read full article »

Real Estate Scam of the Day: Attorney Who Closed Straw Buyers to Spend 5 Years in Jail, Pay more than $4 Million in Restitution

Cheddi Goberdhan acted as a closing attorney for straw buyers who ultimately walked away from overpriced mortgaged. Now he’ll be spending five years in jail, losing his law license and paying $4.7 million in restitution. The scheme was complicated, sometimes involving multiple straw buyer transactions designed to drive up the value of the home so that a larger mortgage could Read full article »

Real Estate Scam of the Day: Indictments Handed Down in $1 Million Mortgage Fraud

Three real estate professionals in St. Paul, Minnesota were indicted earlier this week for their participation in a mortgage fraud scheme that led to fraudulent loans totaling more than a million dollars. When the loans involved in the scheme were made and approved, the money was used to purchase properties at excessively high, inflated prices. Excess money over the value Read full article »

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.