How not to do business...
From the Denver Busines Journal:
Real estate agent gets 7-year sentence
Prosecutors alleged that Weiss acquired Denver-area homes at a low price and, often after some improvements, sold them at substantially higher prices, usually for two or three times what was paid. Weiss allegedly targeted Latinos who knew little or no English, many of whom were living in the United States illegally, according to the indictment. Knowing that the buyers couldn’t afford to buy houses or legitimately qualify for home loans, Weiss allegedly arranged for false information to be provided to mortgage companies and HUD, prosecutors said.
Prosecutors alleged that Weiss acquired Denver-area homes at a low price and, often after some improvements, sold them at substantially higher prices, usually for two or three times what was paid.
Weiss allegedly targeted Latinos who knew little or no English, many of whom were living in the United States illegally, according to the indictment.
Knowing that the buyers couldn’t afford to buy houses or legitimately qualify for home loans, Weiss allegedly arranged for false information to be provided to mortgage companies and HUD, prosecutors said.
Tags: bank owned, denver mortgages, denver properties, denver real estate, mortgage, properties, real estate
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The Brian Petrelli team focuses on residential real estate in the Metro Denver area.
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