A number of Houston investors are serving prison time for one type of loan fraud or another.

How are they not in debtors prison??

I don't use my attorney because I'm concerned about the quality of the title search (though that's a valid reason), but more because I know my attorneys can push the closing through in about 10-14 days (whereas the seller's attorney could take up to 6 weeks), my attorneys won't charge a ridiculous amount of attorney's fees ($200 compared to the $650 the big REO firm here charges), my attorneys won't make me wait for 2 hours when the closing is running behind schedule (the big REO firm here is notorious for a packed waiting room), my attorneys can allow me to change to financing without having to sign amendments and tell the seller, and my attorneys will let me sign at my convenience (I can come to their office anytime or they'll come to me if I prefer)...So, between the cost savings (even after title insurance), the convenience, and the ability to switch to financing easily, it's really a no-brainer for me.

I did not mean to imply that one would be cheating if one were to use FMV, but if one did so knowing it was wrong, then I guess it would be deceiving, that's why Enron accountants and executivies are in prison.

NOTHING.It positively sickens me that someone, somewhere might actually fall for this garbage and lose a few hundred grand -- or more.The promoters of these scams belong in prison.

Yeah...BOA is notorious for "misplacing" the new insurance information that my agent sends it so that can place forced insurance on me too.

Banks are notorious for not having their act together, not getting docs prepared and signed quickly, not getting to the closing table as scheduled, etc.

Thanks guys, and yes Bill, I knew an attorney who mentioned that happening....but he is still in prison for something else!

A very boiled down version would be to pay to have a fence put around the property (Open and notorious use), pay the taxes for 5 years, then sue.

The work was still under warranty, so they came out and turned it the right way a couple days ago.Here's what I learned from the plumber: renters are notorious for tampering with meters, which operate on a paddle wheel.