3 indicted in Houston area mortgage fraud allegations

- Politics, Business, Civil, History - Posted: 8th Feb, 2010 - 1:04pm

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The Mortgage Fraud Blog
Post Date: 8th Feb, 2010 - 1:04pm / Post ID: #

3 indicted in Houston area mortgage fraud allegations

3 indicted in Houston area mortgage fraud allegations
Mortgage Fraud News From MortgageFraud.org

Eiland, Robinson and Zhu are accused of located properties for sale in the Houston area. They then recruited individuals with good credit to act as borrowers to purchase one or more of these homes. The borrowers were allegedly paid cash to use their name and credit and told that the homes would be rented out for a year. Eiland and Robinson, according to the indictment, would then sell the home at an inflated price determined by Zhu, resulting in a significant profit.
Source: Daily Mortgage Fraud News

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