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A&E - FLIP MY FORECLOSURE SCAM PART 1

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Isnt everything the last 5 years seem to be about some big money real estate scam? Here is an A&E "Flip This House" scam that was shown to viewers. Part 2 of this story is located HERE http://www.youtube.com/watch?v...

Channel: News & Politics
Uploaded: May 16, 2007 at 11:28 pm
Author: john67elco

Length: 07:06
Rating: 4.85
Views: 57250

Tags: bubble  crash  estate  foreclosure  housing  real  subprime  

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Video Comments

botaduck (July 21, 2008 at 7:53 am)
scum
christophgerald (July 18, 2008 at 3:52 am)
Typical
CreditSecretsBible (July 5, 2008 at 12:38 am)
Very good. We believe many MANY banks do NOT work with homeowners because it is simply NOT in their best interest. These days anytime you have a bank, you usually have an insurance company right next to it. There is a reason WHY banks take back properties and then sell them to OTHER PEOPLE for as much as 40% LESS than what was owed by the mortgage holder in trouble... when, they could have just knocked 25% off the homeowners loan and avoided taking hte house back. Go research it...
ricklickme (May 17, 2008 at 9:23 pm)
This is too bad, especially since Angie has a great rack!!
americanplanninginc (May 7, 2008 at 6:01 am)
I LOVE THIS VIDEO.ARTHUR ROBINSON
rickker20 (April 21, 2008 at 4:39 pm)
This what happens when you hire some one that is a realtor then a builder. You need a license Builder.
persistentcom (April 1, 2008 at 12:30 pm)
We have been scammed many times, especially with internet based transactions. If this ever happens to you contact a lawyer immediately and get free legal advice from websites like The Attorneys Forum.
sfcub69 (March 26, 2008 at 9:29 am)
well said, lawbeat.
XL4U (March 18, 2008 at 12:17 pm)
Nigerian scammer
sweeeedishfish (March 16, 2008 at 8:05 pm)
If you took over someone's loan you could still turn around and sell the house the next day. It's just one way to finance the property. However, I wouldn't say that "most" banks give you that option... that sounds like something you would do pre-foreclosure, where all parties agree to it. After the house becomes banked owned, the previous owner and their looan is out of the picture. After foreclosure, I think typically banks want you to come up with your own financing/pay cash.

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