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All Forum Posts by: Karl Krentzel

Karl Krentzel has started 64 posts and replied 391 times.

Foreclosures

Post: HUD auction fraud

Karl KrentzelPosted
  • Real Estate Broker
  • Tucson, AZ
  • Posts 410
  • Votes 337

Yep, I'm a Broker/Investor here in Tucson. The agent and the "owner" need to sign an affidavit outlining the fact that they will be residing in the home for 12 mos after the sale under penalty of law. The penalty is SUPER big. Their broker signs, the agent signs, and the "owner" signs as well. The fines can be up to 250k and ten years in the pokey. Where to report that fraud is in the State you are in Department of Real Estate. They will have an investigator look into it and if true, the Attorney General will get involved... and let the fun begin!

0 Votes