According to a story in the Greater Baton Rouge Business Report, a local real estate investment scheme has been suckering investors, leaving contractors unpaid and sticking banks with millions in debt. The article describes a pre-construction purchase and sale program that is reputed to result in large and quick profits. According to the article, however, many of the loans are supported by false information and inflated appraisals.
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Louisiana Investigates Pre-Construction Real Estate Investment Scheme
Tuesday, November 01 2005 01:11
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Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.
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