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      Mortgage Fraud Blog sends me an update email once per week.   The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Rachel Dollar is a California attorney who represents lenders in mortgage related litiga...
real estate fraud: Controller for The Mortgage Store Pleads Guilty to Bank Fraud - 12/12/14 07:55 AM   St. Peters Man Pleads Guilty to Bank Fraud     ST. LOUIS, MO— Mark Avalos pled guilty to bank fraud charges relating to his work as the Controller for The Mortgage Store, Inc. (TMS), in 2008. A...
By David Saks
Comments 2
A broker decided to sell a lot he owned, which was 60 feet by 120 feet, for the price of 10 dollars per square foot. The purchaser would assume a paving lien of 25 dollars per front foot. What price would the purchaser have to ask for the lot if he wanted to sell it at a profit of 1500 dollars a...
By David Saks
Comments 0
The market value of a property is 600 thousand dollars. It's assessed for property taxes at 60% of it's market value. The property is taxed at the rate of 55 mills on the assessed value. What is the annual property tax paid for this assessment ? The answer is poated below the wildlife photo. Ple...
By David Saks
Comments 0
The commission rate for selling a condominium was 5% of the first 100 thousand dollars and 2.5% for anything over that amount. The brokers commission was $7,300 What did the condominium sell for ? Answers below the wildlife photos. Please take your time. A. $192,000 Let's see what the commission...
By David Saks
Comments 0
A man bought a farm for 880 thousand dollars and sold it for one million dollars. The expenses he incurred from the sale of the farm were 10 thousand dollars. His profit was what percent of his cost ? Take your time. The answer is below the wildlife photo. A. 12.5% Let's first subtract 880 thous...
By David Saks
Comments 0
The municipality borrowed 2 million dollars for one year for the construction of an addition to a public school. If 550 thousand dollars in total interest was paid at the end of the year, what was the rate of interest ? The answer is posted below the wildlife photo. Take your time and 'bear with...
By David Saks
Comments 0
A man took out a loan for $1500 at the loan rate 5.5% or 5 1/2% per annum. If he paid back the loan with 25 dollars in interest how long did he keep the money before he paid it back ? The answer is below the wildlife photo. Take your time. A. Four Months Let's first find out what the annual inte...
By David Saks
Comments 0
  If a property is assessed at $140,000 and the tax rate is $21 per $1000 of assessed value, how much will the owner be liable in taxes ? Answers posted below the wildlife photo. Take your time. A. $2940 Divide 140,000 by 1000 to get 140. Next, multiply $21 times 140 and we get $2940 in property ...
By David Saks
Comments 0
Here's an easy one for you. A real estate salesman receives a 5% commission for selling a house for $160,800. How much does the salesman receive, and how much will the owner receive after the salesman is paid ? Answers below the wildlife picture. Take your time. A. The salesman will receive $840...
By David Saks
Comments 0
An investor receives $525 at the end of 6 months as a return on money invested at 6% per year. How much money has he invested ? Answers posted below the wildlife pictures. Take your time. A. $17,500 If $525 represents six months return, $1050 would represent an annual return at 6%. Divide 6% or ...
By David Saks
Comments 2
  Have a Great Hanukka ! Enjoy the Latkes !   -DS-
By David Saks
Comments 0
A man borrows money for six months at 6% annual interest rate payable in advance. How much does he have to borrow in order to have 1000 dollars in cash immediately ? Answers and solution posted below the wildlife photo. Take your time. A. $1031.915 or $1031.92 rounded This is similar to a commis...
By David Saks
Comments 14
      Graceland Is Not For Sale !  
real estate fraud: Mortgage Fraud Blog for December 11, 2014 - 12/10/14 10:42 PM     Mortgage Fraud Blog sends me an update email once per week.   The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Copyright...
  HUD NEWS U.S. Department of Housing and Urban Development – Julián Castro, Secretary Office of Public Affairs, Washington, DC 20410                        HUD No. 14-151                                                                                              FOR RELEASE source:             ...
By David Saks
Comments 0
A man borrows 100 thousand dollars at 5% per annum. What is the amount he will repay in nine months ? A. $103,750 dollars Multiply 100k times the annual interest rate of 5% or .05 and we get 5000 dollars. Let's now divide 5000 by 12 months and we get $416.66. Multiply $416.6666 times 9 months an...
By David Saks
Comments 0
A buyer has an opportunity to purchase a lot for 10,000 dollars and a guaranteed within a year for 12,000 dollars. He also has an opportunity to lend 10,000 dollars to an individual who will repay the loan within a year at 10% interest. What is the better deal and by how much ? The answers are b...
By David Saks
Comments 5
The taxes on a home were $1260 and were due on January first and to be paid by the owner. How much of a credit would the owner get if he sold his home and the taxes were prorated from September 15th ? Answers are below the wildlife photo. Take your time. A. $367.50 January 1st to September 15th ...
By David Saks
Comments 0
A salesman brings in a listing on a 500 thousand dollar home and will receive 15% of the total 5% commission from the sale of the home. If another salesman is involved in the sale and sells the house and the 15% is deducted from his half of the commission, how much will he receive from the sale ...

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