Autumn Leaf Real Estate Investment Club - United Mortgage - Gulfstream Development
Real Estate Rip-off. Working with the builder and Mortage co. To inflate appraisals to get financing approved and houses sold
- 05-30-2007
- 13
A Florida property was purchased for approx.$250,000 by the time they completed the house the price was up to $270,000. But their appraisal came in at $310,000. I still felt that i could flip this house and make a small profit. But then i had an independant appraisal done and it came in at $230,000.
I contacted all the people involved but receive no advice except my appraisal was wrong. I still have not heard a word from United Mortage to let me know if i was approved or not for this loan. Now i am in foreclosure.
Company: Autumn Leaf Real Estate Investment Club - United Mortgage - Gulfstream Development
Country: USA
State: California
City: Temecula
Address: Business Park Drive, Unit201
Phone: 9516935870