Some Prompt Here
Cross

RobertaMurphy's cre8Buzz Blog

Beware the San Diego Real Estate Vultures Posted 6 months ago
digg
delicious
stumble
reddit

I am just now cooling down after spending a good part of this afternoon trying to help a San Diego area homeowner saddled with the unpleasant results of churned mortgages.

This particular property in rural San Marcos has been refinanced by the same lender with a total of nine loans over a couple of years. In one instance, only 28 days elapsed between refinancings. With total debt now approaching $2 million, this distraught owner is seeking a way to keep her home and not be forced to sell it.

Sometimes, keeping people in their San Diego homes is just part of our job–and one of the most rewarding ones.

But the ordeal got me thinking of all the scams surrounding (and invading) San Diego real estate. Mortgage scams certainly contributed to the rise in San Diego foreclosures and short sales, but it is the buzzards circling over and divebombing distressed homeowners that infuriates this Realtor.

Some of the current San Diego scams:

Continue reading: http://tinyurl.com/5tqtbk

0 comments