Short Sale Fraud By The Banks
Wow, that’s all I can say. This is a must read article. This is a violation of RESPA. Something needs to start being done about what is going on. It just never stops and this housing mess will end up repeating itself at this rate.
“But here’s what’s not legal and what’s apparently happening quite often recently. Since many second lien holders are getting very little, they are now allegedly requesting money on the side from either real estate agents or the buyers in the short sale. When I say “on the side,” I mean in cash, off the HUD settlement statements, so the first lien holder doesn’t see it.”