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Real Estate & Property Law

: The Home Equity Theft Reporter

Head Of Illegal House Flipping Operation Gets 27 Years; Scam Lead To 60+ Foreclosures; Collateral Damage To Surrounding Neighborhoods Pegged At $90M

By r morris

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In Charlotte, North Carolina, the Charlotte Observer reports:A man convicted in 2007 for his role in a mortgage fraud scheme affecting homes in the Charlotte area was sentenced Monday to 27 years in federal prison. William Roosevelt Cloud, 62, also was ordered to pay more than $880,000 in restitution to several financial institutions. Cloud was convicted two years ago of crimes including mortgage

Full post as published by The Home Equity Theft Reporter on December 16, 2009 (boomark / email).

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