Pennsylvania AG Investigating "Short Sale" Flipping Scam
(revised 8-23-07)
The Pittsburgh Post-Gazette reports that the Pennsylvania Attorney General's office is investigating a residential real estate transaction involving a short sale, a quick flip, the alleged use of falsified double HUD-1 settlement statements, and possible mortgage fraud. The individual at the center of the deal is James Platts, of Easy Realty Solutions. Platts has, in the past, reportedly pleaded guilty to a dozen counts of fraud and theft in connection with the home building business he once ran, and he was indicted earlier this year on charges of tax evasion. He has also been the subject of complaints by dozens of couples in connection with other real estate transactions, according to the story. He has also reportedly been connected with a "rent-to-own" program offered to consumers. For more, see Confusion reigns in murky house sale.
For more on Jim Platts (and a similar operation he runs in Florida), see Company under investigation in Pa. seems to have a twin in Florida (Realty pitch sounds familiar).
Go here for other posts on James Platts.
The Pittsburgh Post-Gazette reports that the Pennsylvania Attorney General's office is investigating a residential real estate transaction involving a short sale, a quick flip, the alleged use of falsified double HUD-1 settlement statements, and possible mortgage fraud. The individual at the center of the deal is James Platts, of Easy Realty Solutions. Platts has, in the past, reportedly pleaded guilty to a dozen counts of fraud and theft in connection with the home building business he once ran, and he was indicted earlier this year on charges of tax evasion. He has also been the subject of complaints by dozens of couples in connection with other real estate transactions, according to the story. He has also reportedly been connected with a "rent-to-own" program offered to consumers. For more, see Confusion reigns in murky house sale.
For more on Jim Platts (and a similar operation he runs in Florida), see Company under investigation in Pa. seems to have a twin in Florida (Realty pitch sounds familiar).
Go here for other posts on James Platts.
posted by Home Equity Theft Reporter at 8:44 AM
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