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How To Avoid The Real Estate 'F' Word -- Before You Buy

Date: March 14, 2007
The government is waging war against the axis of mortgage evils -- predatory lending, mortgage fraud, subprime loans and non traditional mortgages.

The government is waging war against the axis of mortgage evils -- predatory lending, mortgage fraud, subprime loans and non traditional mortgages.

The Federal Bureau of Investigations, recently reminded fraud perps they could get 30 years in the slammer and $1 million in fines, or both.

On another front, Robert Steel, a U.S. Treasury undersecretary this week told reporters high-risk loan company meltdown is "manageable.. Hopefully, not in the same way as that other war.

Bank regulators fresh from the front rewriting rules for non-traditional mortgages seek the same concessions from the subprime sector..

Foreclosures, more and more often spawned by the evil axis, aren't taking any prisoners.

But they are taking homes.

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Source: Broderick Perkins, RealtyTimes.com

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