Shell Game In Baltimore City?

In Baltimore, Maryland, Baltimore City Paper reports on the story of a small group of people who, according to land records, bought, traded and sold each other houses here before defaulting on their loans.

• This small group of people is involved with at least 11 foreclosures--some completed, others pending--within a half-mile radius of 223 S. Madeira St. At least three of them are investors who borrowed heavily even after the real estate bubble burst and then stopped paying their mortgages. By selling several houses to [one local property buyer], one man appears to have made about $750,000.

For the story, see Shell Game: Seven Neighbors, 11 Foreclosures, and More Than a Million Dollars' Profit in One Baltimore Neighborhood.