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Loan Modification

: Flipping Frenzy

Three Indicted in $1 Million Mortgage Fraud Scheme

By Ralph Roberts

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Two mortgage brokers and one real estate appraiser were indicted yesterday in federal court in St. Paul for allegedly orchestrating a mortgage fraud scheme in which they induced lenders to loan more than $1 million to purchasers to buy properties at inflated prices. The excess money was then shared among those involved in the scheme. [...]

Full post as published by Flipping Frenzy on December 11, 2010 (boomark / email).

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