Here is a puzzle for you, how did this young lady get all these balloons?Cynthia C., bought Unit 307 Skylark (photo) 4/06/2006 for $685,000.
Got a mortgage from Countrywide Homes Loans, Van Nuys, Ca. for $548,000.
Second mortgage on 307 for $68,500, total financed $616,500.
On 4/06/2006 she bought Unit 309 (865 Collins) for $550,000.
Mortgage $570,000 balloon.
She bought another unit Lot 13, 5/10/2006 for $1,200,000.
She got a balloon for same amount: $1,200,000.
On 5/10/2006 she purchased Unit 4309 at Jade (photo) for $1,475,000.
Balloon mortgage given for unit 4309 of Jade (lst mortgage), and third mortgage on Unit No. 309 $1,465,000 (combined).
On 6/14/2006 Cynthia bought Lot 11 (photo) for $1,550,000. She got a balloon for $1,240,000 on Lot 11. Then she got a second balloon for $360,000, total $1,600,000.
She sold Lot 13 for $1,750,000 and repaid the $1,200,000 loan, on two properties (No. 309 Second Mortgage?).
Then her troubles started:
Lis Pendens on lot 11 10/31/2006, just 4 months after she purchased it.
Somehow she got another mortgage 11/01/2006. While residing at 865 Collins Apt. 307, she got a mortgage on Apt. 309 for $75,400.
On 2/25/2007 she paid off a $200,000 Mortgage on Lot 20 a.k.a. 835 W. 70th Place, Hialeah.
Second Lis Pendens on Unit 307 4/19/2007.
Third Lis Pendens on Unit 309 4/23/2007.
Final Judgment of foreclosure on 5/11/2007 $1,511,285.21 for Lot 11 (first Mortgage).
Final Judgment of foreclosure 5/11/2007 for $1,759,793.50 for Condo Unit 4309 at the Jade.
Believe it or not: On 5/25/2007 she bought another Condominium #1106 for $435,000 and sold it the same day for $720,000!
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17 comments:
Didn't she have to disclose these mortgages on your later mortgage application? If so, why isn't she arrested for criminal fraud?
That would be the question of the day, Steven.
Some other questions, not far behind: what percentage of white collar criminal investigators have been diverted to hunting terrorists, since 2001?
What has happened to budgets for white collar crime/ real estate fraud since 2001? Who in county govt or state govt is looking at this?
You know what? If I ever managed to plot out all those transactions, I would walk out of the last closing right into the loving arms of the IRS agents in the hallway.
Do you think you are looking at some drug money laundering there?
Laundering drug money has always been a big part of the S. Fl business landscape. Another question to ask, re the diversion of federal law enforcement resources to hunting terrorists.
What G.O.D. is turning up is probably plain old vanilla mortgage fraud... of course, an occassional drug dealer could be putting money down, to defraud banks... but with 0 percent liar loans so freely available, who needs drug money?
Could there be other wrinkles, like distressed homebuilders putting up shill buyers in order to keep burning someone else's cash and keep money flowing into political campaigns?
i think these are just terrible people ready to lie on a dime. note they buy these properties very close together...so the research of a reputable mortgage company might not find the other transaction. Something is so bad here it is criminal. In fact, I have uncovered a wealth of deceipt and many lies on all the research I have done these past few months.
Did you see she actually turned a profit after she was foreclosed twice. She should have to turn that profit over to the losers on the foreclosure because she sure wasn't one of them...
That final profit she made is totally fraudulent. C'mon, buy and sell in the same damn day! And with a $300K markup. This one should be a no-brainer for the Feds if they bother to investigate.
what if the woman - who appears to be in the business of flipping - knows a person in the building deperate to move and she knows a really dumb person looking to move into that building...she could match-make.
Don't think so...FRAUD...that is what this is.
Wow. Great research.
Semi-related. The lady host covering for Jim Defede on the radio this morning was adamant that home prices in Miami-Dade will never fall. Maybe dip just a bit, but soon rise again.
The last deal: she might have had a downpayment for a year or more...when she closed it was worth more? Unlikely, but could be.
This is a perfect example of why the housing market here is so fucked up.
The boom was built on lies and fraud.
Great work. Here's my question: has any authority figure been alerted to this? Is anyone remotely aware? This stuff happens in San Antonio, albeit on a much smaller scale.
Told state attorney, doesn't seem very interested.
Another shocker, more fraud uncovered and the State's Attorney is conveniently AWOL (again). This type of fraud has been rampant for so long all over this country and involves so many well placed business types and politicians that the only thing that will stop it is the wrecking of the U.S. dollar. It's inevitable that the Feds will eventually have to pay off everyone to make the debt go away, there is no other way then we will truly be what this country has been moving towards since 1965, a Third World nation.
I don't know if I'd come to the conclusion that this is fraud. She paid off a few really high mortgages and I'm sure the banks took that into consideration. Plus maybe she has a high networth.
All of this is so very sad.
It seems there is very little honesty left in this world.
Being extremely well educated, but unfortunately not very well paid ... I am so happy that my choice was to continue renting. Less headaches !!!!
I personally think South Florida and Miami in particular is just an advanced viewing platform for why I truly believe the U.S. is going down financially.
An over inflated stock market, negative savings rate matched with increased debt (both personal and by government) and corruption at all levels of government.
The "status quo" cannot continue go on forever.
No wonder there are so many people taking anti-depressant medications.
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