I have met them!

[Karl]

I was "priviledged?" today to meet some "Straw Buyers" I was also given the spieal as to how a "Straw Buyer" is bought YES it's spelled right!! they buy "Straw Buyers" those that I met the luckiest one of the bunch made a whooping $18,000 before she started receiving payment notices.

From reading various postings on this forum many here could easily be convinced to become a "Straw Buyer" It is amazing who they used, one a boyfriend sucked his girlfriend in. Another the MB got his secretary into it. Simply amazing what money will do!! & the list goes on.

IF anyone on here has purchased Real Estate with a "Friend" or club or group of "Investors" with a Guranteed return. You may want to take another look at your documents. See who's names are on the FINAL DOCUMENTS!!! NOT the Good Faith or Contracts but the FINAL signed documents. These I met had no idea that they had been taken!!! For an average of 12-18 months from the intial purchase date.

 

[Elliott]

Karl,
Run, don't walk, to the nearest FBI office and tell them your story.

I once had a rush appraisal on a $1 million property, I had a call
from the 'lender' and she said, 'um, we need to pay you for this.'
Being a curious sort, I latter talked to the escrow company and
they said, "Wow, Elliott, you wouldn't believe what happened, the
buyer had set up her own escrow company and created a situation
where she would have transferred a $1 million to her, well, something
didn't sound right, and the FBI was there at closing and arrested her!!"

So let the govie guys do the work now, rather than latter.

 

[SANDY]

Oh Hum!!!!Yawn!!!!

 

[liznindy]

There was/is a lot of shady stuff going on...and its starting to hit the fan now....

While reviewing MLS data for market areas in which several properties I'm appraising are located, I have found that you can purchase many properties for $5,000 to $10,000 (each) in Indy in several market areas...I wonder how many of these properties were 'purchased' in the past using straw buyers (and other deceptive lending practices)....I would guess the majority!