KC housing re-hab fraud

[Gary Farnsworth]

Now what. If it ain't mortgage fraud around here with corrupt home builders, foreclosure paperwork issues, contractor rip-offs, now it is this.

What in the heck is going on in this town? Apparently, agents, brokers, home owners are not getting inspections of any kind. Sad, and this is the result. And this involves federal money.

Lawmakers in Kansas better wake up. This hurts Missouri, too.

http://www.kansascity.com/2010/11/10...ome-rehab.html

[Dan Bowers, CMI]

This is exactly WHY it is so vitally important that home inspectors be licensed in Kansas and Missouri - To protect the public from this.

IF we had ONLY had licensed Missouri home inspectors we could have blamed them instead of these poor shysters.

[Gary Farnsworth]

Just an example of how used home commissioned sales people nationwide are pushing all home inspectors out of the way, and out of business. Homes are selling "as is", and over $20K under market, so why get a $350 home inspection? Incredible what is going on.

Agents are really the next to suffer, as banks and lenders, with their appraisal buddies, and "free check" contractors, are doing, and inspecting, many home sale transactions. Some sales are even going from one bank to another, and showing up as a "sale".

These are different times, and we all must try to adapt. But when SOP's and state licensing allow for basic reporting, cheapo inspectors fall right in with the scam, IMHO.

I bet there are more stories like this to come. I am tired with complaining about poor business, cheap inspectors, and agents who only suggest an inspector who charges less than $199. My enthusiasm for my industry is about done.

[Gary Farnsworth]

http://www.bizjournals.com/kansascit...-mortgage.html

More federal indictments in KC; still another mortgage fraud scheme announced today; November 22, 2010.

[James E. Braun, CMI]

I wonder how many days it will take for these soon to be convicted real estate felonys to get the real estate licenses back after they spend jail time. I bet only three days if Kansas Real Estate Commission is like Missouri's.

[Gary Farnsworth]

http://www.kansascity.com/2010/11/22...k=omni_popular

Major funeral fraud scheme in St. Louis.

Fraud is running rampant. I bet there are home inspection companies here in KC that are paying advertising fees, office fees, marketing fees, etc. to RE offices. It will catch up to them.