Suspicious Kalamazoo Real Estate Transactions Resulting In Foreclosure Of 50+ Homes Scrutinized In Local Media Report

In Kalamazoo, Michigan, an investigative report by The Kalamazoo Gazette describes a series of suspicious real estate transactions during 2006 & 2007 by a couple of local real estate operators that reportedly resulted in over 50 homes being lost in foreclosure, leaving lenders on the hook with more than $4.7 million in bad debt, according to the story.

For the story, see:

• Buyer, seller say they made post-sale deals to fix up homes (Series of sales led to defaults, records show),
• FBI investigating Kalamazoo man for possible mortgage fraud (Rodney Hixon has a habit of overpaying for houses. Some people are wondering why).