Texas Appraiser Admits Inflating Appraisals

Allison Tussey —  October 19, 2010 — 3 Comments

Elizabeth Altizer, a Texas real estate appraiser, stipulated in a Factual Statement that she provided inflated appraisals for six Texas properties in connection with a conspiracy to defraud lending institutions. The inflated appraisals were conducted on the following properties:

1612 Hastings Bluff, McKinney, Texas;

817 Hills Creek, McKinney, Texas;

918 Hills Creek, McKinney, Texas;

8417 Crosswind, Fort Worth, Texas;

8644 Overland, For Worth, Texas; and

8533 Waterfront Court, Fort Worth, Texas.

As a result of the inflated appraisals, Altizer personally gained $5,000 while contributing to losses not less than $2,000,000.

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Allison Tussey

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3 responses to Texas Appraiser Admits Inflating Appraisals

  1. Frank J. Lucco, SRA, CRP January 26, 2011 at 11:24 am

    too bad. As usual the appraisers cut is only .25% of the total loss.

  2. Frank J. Lucco, SRA, CRP November 3, 2010 at 12:26 pm

    Tes – it is a problem – we are involved in numerous forensic studies on the issue of appraiser fraud, mortgage fraud, wrongful foreclosure, etc.

  3. IN HARRIS COUNTY THE APPRASIAL DISTRICT SENDS UNQUALIFIED PEOPLE AROUND TO LOOK AT PROPERTIES.A SO CALLED APPRAISER (JUST A KID) STOOD BETWEEN 2 BUILDINGS THAT HAD ROTTEN SIDES AND WHEN I LATER CHECKED FOUND THE PROPERTIES OVERVALUED.NOW HERE COME THE PEOPLE PAID TO PROTEST THE VALUE FOR THOSE PROPERTIES.THEY HAVE A CONNECTION AT HCAD BECAUSE WHEN YOU LOWER THE TOTAL VALUES FOR AN INVESTOR BY 4.5 MILLION IN ONE MEETING YOU MUST HAVE A CONNECTION.IN THE MEANTIME THE INVESTOR HAS BORROWED MILLONS THRU AUSTIN TX AND THE PAPER WENT THRU MISSION MORTGAGE OUT OF LA.HELLO CITI CORP. AND THIS PERSON IS STILL WALKING AROUND.I TURNED ALL INFORMATION AND PAPER WORK TO THE GREAT F.B.I.AND THEY PUT IT IN THEIR EVIDENCE LOCKER AND DID NOT SEE THE LITE OF DAY FOR A LONG TIME.IN THE MEANTIME THIS PERUVIAN WONDER HAD OVER 200 TOWNHOMES FORECLOSED ON.I WONDER HOW MANY HOW MANY OTHERS HAVE TRIED TO STOP THE FRAUD AND NO ONE WOULD PAY A DAM BIT OF ATTENTION TO THEM.I WONDER IF BILL O ON FOX WOULD BRING TO THE ATTENTION OF THE PUBLIC.I WOULD LIKE TO SEE MRS DOLLAR ON TV INFORM THE PUBLIC OF THE FRAUD AND SCAMS. G.UBER USN RET.

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