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: The Home Equity Theft Reporter

Alleged Hampton Roads Equity Stripping Scam Operation Leaves Homeowners Out On The Street, Straw Buyers Holding The Bag

By r morris

In Hampton Roads, Virginia, The Virginian Pilot reports: [T]he alleged scammers presented themselves as saviors of financially distressed - often first-time - homeowners, promising to repair their credit and save their homes. Instead, they recruited straw buyers to purchase the properties - in the process taking out bigger mortgages - and walked away with the proceeds. That left two classes of

Full post as published by The Home Equity Theft Reporter on December 02, 2008 (boomark / email).