Thursday, February 12, 2009

Portland real estate broker busted

KGW is reporting that at least one local broker has finally been tripped up.
Assistant U.S. Attorney Kent Robinson said Tuesday that 45-year-old Lee Howlett worked with others to pull off a series of fraudulent home mortgage deals through falsified loan applications and fake appraisals. The appraisals on some properties were inflated, and the higher value was used to apply for larger loans.
I'm pretty sure I've seen some of these fradulent deals show up as foreclosures with crazy prices, I'm glad to see at least one of these idiots get his due.

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