A house came up for sale recently that caught my attention. It was listed by an agent who I knew listed homes for some people who were involved in some shady stuff during the housing crash. I looked up the history of the house and it was clear as day that it was involved in some shenanigans. Most likely, mortgage fraud.
The way it worked was an investor would buy a house, complete a lipstick remodel, then sell the house to a corporation he owned or one of his friends owned. Nothing wrong with that, except they sold it for twice as much as it was worth. They created a fake lease, then had an appraisal done from that lease for the inflated price. They took the money from the lender and let the house go into foreclosure. I saw this happen over and over and decided to do a video on it. You can see all the details below.
