Huge mortgage fraud indictments handed out today in Sacramento. I'm personally not familiar with this case or any of these named defendants, but the general nature of the actions these men took is quite common in today's real estate environment. What amazes me is how these people thought they would get away with it. Two words: paper trail.
I've always believed, and said, that real estate, unlike many other assets, makes people greedy. Greedy to the point that they often turn on family members and trusted friends all in the name of real estate. And they often ignore the obvious, that sooner or later their greed will catch up to them in the form of missed loan payments, forged deeds, and other fraudulent tactics.
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