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He was showing homes in Pontiac, MI. one afternoon recently and showed up at a home at the 4:00 pm time his appointment was scheduled for. After he woke up the homeowner, she let them in and then proceeded to tell the buyers that she has already entered into a contract to sell the home on a short-sale. (A short-sale is a sale where the banks accepts less money than is owed on the home). After some chit-chat, she proceeded to tell them that she and her sister (who also lived in the area) were buying each other's homes via the short-sale process. he mentioned to her that he thought relatives could not be involved in those transactions. She smiled and said "We have two different last names so no one knows the difference". She went on to tell them that each of them owed over 100K on their homes and were in the process of buying each other's homes for about 10-15K cash. To top it off, they were each receiving $3,000.00 in government provided relocation assistance at the closing.The buyers were amazed that she was outright admitting to fraud and yet, she continued. She began to tell them that the best part of her scheme was that because they currently were not working that they (both) are now receiving Section 8 Vouchers. he said I thought those were for renters and she said "That's the best part; me and my sister are going to be renting each other's homes so we don't even have to move, and Obama is going to give us each $800.00 a month to pay the rent!" She then picked up a picture she had framed of Obama and did a little happy dance around her living room and while she kissed the picture she was singing "Thank you Obama.... thank you Obama."

So here is the bottom line… Both of these scammers got at least $80,000.00 in debt forgiven, $3,000.00 in cash for relocation (when in fact they did not relocate) and to boot, you and I will now be paying (through our taxes) $1,600.00 in rent for them, each and every month.... perhaps forever!

Is it any wonder why so many people have decided that all they have to do is VOTE for the Democrats and they will be taken care of for life at the expense of the taxpayers? I would not be at all surprised if they are receiving food stamps and whatever other programs are available for anyone who is willing to lie to get assistance.

These women went from working and paying about $900.00 each in mortgage payments to staying home and getting paid $800.00 each per month to live in the same home they had been living in and all they had to do was lie on a few papers. This craziness has to stop! I'm sure this kind of fraud is going on each and every day all across the country and no one wants to touch the subject of entitlements because they might OFFEND someone or lose a vote or two.

By the way... she had an almost new SUV in the driveway, three flat screen TV's and a very nice computer set up in her living room which was furnished entirely with nice leather furniture.





 

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This craziness has to stop! I'm sure this kind of fraud is going on each and every day all across the country and no one wants to touch the subject of entitlements because they might OFFEND someone or lose a vote or two.

Unfortunately, our society is now the "Me" society. So many want what's good for "me", and as long as they get it, and don't care what it means for you (us).
 

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Why was I so honest throughout my life?
 

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I call B.S. Sounds like one of those emails with "Fw:Fw:Fw:Fw:Fw:Fw:Fw:Fw:Fw:Fw:Fw:Fw:Fw:Fw:Fw:" in the Subject field. Might change my mind if there was a link the source.
 

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I have been a Realtor for 44 years, a broker for 41 of those. While this story would not surprise me, I think the "seller" would keep the details quiet. I would not doubt things like this have happened as all govt. programs are hotbeds for fraud. One branch of the Govt has no communication with another part. My immediate thought was the section 8 portion should keep up with most likely the FHA loans, but not necessarily.

Unless the sisters were paying cash, I doubt they could buy each other out at any price as new loans are not the nose is warm of 6 years ago, and the current mortgage holders would have blemished the credit reports of the sisters to have precluded new loans. However, if their drug sales business was sufficient, they could have paid cash.

Lenders in most areas other than very distressed areas have tightened up as far as short sales are concerned as the real estate market is doing pretty well, and the IRS has been trying to make sellers on short sales recapture their gains (income, from forgiveness of debt.)

For those who wonder, I never sold a property in the past on a loan based on unverified income. I have been fortunate to have clientele that were fairly well to do.

It does make for a pretty good story and I would give it about 10% plausibility.
 

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Im thinking it is a make people mad story, and not bothered by 100% factual events, i personally believe some people have managed such things, but overall if it was as regular as this would seem to indicate, not even china could bail us out.


But for the sake of argument i will say this, IF, this were real, just imagine what such people could do, should they have turned all of the effort to get that scam going, into honest work.
 
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I would call shenanigans on this, but having known several welfare queens in my time, this is what they DO. They spend time and energy, gas money, etc. to find loopholes in virtually any government/financial program, and exploit it. They are, essentially, welfare hackers. One I knew had been on it for 10 years before I met her, and she was soooooooooooo ticked when Clinton capped welfare benefits at 2 years.
 

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In todays world I find this story to be possible and being done in many states..
 
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