Another Pittsburgh-Area Senior Victimized; FBI Probing Mortgage Broker

KDKA-TV Channel 2 in Pittsbutgh, Pennsylvania is reporting that the FBI is investigating the lending practices of mortgage broker Carnegie Financial Group in Carnegie, Pennsylvania.

KDKA has been doing investigative reports on victims of this mortgage broker's lending practices recently. Last week, it was about an elderly couple who are losing their home to foreclosure (see Subprime Refinance Threatens Loss of Retired Pittsburgh-Area Couple's Home). In this report, an 82 year old woman is the victim of an unsuitable mortgage for which an inflated appraisal from a bogus appraiser was used. Reportedly, comparable sales for more expensive neighborhoods were used to estimate the value of the victim's home. Further, the appraiser who purportedly did the appraisal, Edward Underhill, was actually deceased when the appraisal was written. His son, Chester Underhill, was convicted earlier this year of passing himself off as his dead father and using his father’s appraisers license to conduct illegal and inflated appraisals to get commissions.

For more, see FBI Probes Carnegie Mortgage Lender.

Go here to watch the KDKA Channel 2 report (then click Play), by investigative reporter Andy Sheehan.

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