Is this the next big shock to the real estate industry?

By
Real Estate Agent with Sand Dollar Realty Group, Inc.
http://actvra.in/8qM

Anybody that has been around the real estate industry for the last few months knows that the so-called "robo signing" scandal is nothing new. However this video really helps you understand just how deep this problem really runs. It is amazing how the banks will make you jump through all these hoops to get a loan, then jump through even more hoops to do a loan modification or short sale, yet the sloppiness and downright fraud on their own back end (behind closed doors) is absolutely flabbergasting.

I am truly surprised that a bunch of class action suits have not been filed and that nobody on Wall Street has gone to jail over all this. Only time will tell I guess.

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Topic:
Lending / Financial
Groups:
Silent Majority
REO
Politics And Real Estate
Florida Real Estate Investors
Tags:
robo signing scandal
wall street foreclosure
foreclosure fraud
short sale fraud

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Rainer
224,298
James Loftis
Real Estate 911 Inc - Hollywood, FL
Real Estate 911 Inc

This "robo signing" could be a very serious issue for the banks to deal with.

Apr 17, 2011 12:22 PM #1
Rainmaker
565,928
Kathy Sheehan
Movement Mortgage 770-634-4021 - Atlanta, GA
Branch Manager

60 minutes did a great piece on this problem a couple of weeks ago.  I agree it is far from over.

Apr 17, 2011 12:23 PM #2
Rainmaker
368,712
Kevin Robinson
Twin Falls, ID
High End Vacation Homes

I believe no one will ever go to jail for this. Double standards exist.

Apr 18, 2011 07:29 AM #3
Rainmaker
1,089,501
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Hood Dude is correct * no one will go to jail over this as the system make them do it!

Apr 24, 2011 08:42 AM #4
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Rainmaker
709,975

Rob Arnold

Metro Orlando Full Service - Investor Friendly & F
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