Subcrime or subslime ?
Started by
nimblebear
, Feb 24 2008 11:15 PM
3 replies to this topic
#1
nimblebear
-
- Traders-Talk User
- 6,062 posts
Welcome to the Dark Side !
Posted 24 February 2008 - 11:15 PM
Talk about fraud.
Countrywide loans money, several times....before..... after 3 transactions on the same house, final buyer finds that ...low and behold, the orginal onwers whose house was foreclosed was sitting in a back room....dead. Skeleton in a chair.
That's right 3 transactions on a $500k house, before they find that the owner (orginal) was dead. Skeletal remains in a chair. Next to a dead dog. Buyers bought sight unseen. And apparently so did Countrywode loan, site unseen.
Wrought with fraud.
Great due diligence here.
OTIS.
#2
OEXCHAOS
-
- Admin
- 22,595 posts
Mark S. Young
Posted 25 February 2008 - 08:57 AM
Talk about fraud.
Countrywide loans money, several times....before..... after 3 transactions on the same house, final buyer finds that ...low and behold, the orginal onwers whose house was foreclosed was sitting in a back room....dead. Skeleton in a chair.
That's right 3 transactions on a $500k house, before they find that the owner (orginal) was dead. Skeletal remains in a chair. Next to a dead dog. Buyers bought sight unseen. And apparently so did Countrywode loan, site unseen.
Wrought with fraud.
Great due diligence here.
At least he didn't trash the house!
Evidently maintenance was a "skeletal crew".
I got a million of 'em!
Mark S Young
Wall Street Sentiment
Get a free trial here:
https://book.stripe....1aut29V5edgrS03
You can now follow me on X
#3
Cirrus
-
- TT Patron+
- 5,735 posts
Member
Posted 25 February 2008 - 10:38 AM
This fraud parallels some of the savings and loan stuff that went on in the 1980's. The only difference is the swindlers were generally more well to do in the 80's while the swindlers were more average Joe types today.
#4
milbank
-
- TT Patron+
- 4,714 posts
Member
Posted 25 February 2008 - 12:04 PM
Talk about fraud.
Countrywide loans money, several times....before..... after 3 transactions on the same house, final buyer finds that ...low and behold, the orginal onwers whose house was foreclosed was sitting in a back room....dead. Skeleton in a chair.
That's right 3 transactions on a $500k house, before they find that the owner (orginal) was dead. Skeletal remains in a chair. Next to a dead dog. Buyers bought sight unseen. And apparently so did Countrywode loan, site unseen.
Wrought with fraud.
Great due diligence here.
At least he didn't trash the house!
Evidently maintenance was a "skeletal crew".
I got a million of 'em!
HOLY CRAP! The writer's strike IS over!
"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw
"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe
