Another Short Sale Fraud Uncovered

Title Insurers and Closers, beware. CNBC has picked up yet another RESPA violation.  It would seem that some second mortgage lenders are asking for “payments on the side – i.e. off the closing statement,” (clearly illigal under RESPA) in order to release liability under the second mortgage.   Their leverage is, if you don’t pay, we won’t release, and you will have to go into foreclosure- wreck your credit – Your choice. Pay us, or we blow your short sale.  Read the full  CNBC Article here.