861 Silver Circle, Breckenridge - PowerPoint PPT Presentation

Loading...

PPT – 861 Silver Circle, Breckenridge PowerPoint presentation | free to download - id: 5aeaa3-ZjQ3M



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

861 Silver Circle, Breckenridge

Description:

Title: 861 Silver Circle, Breckenridge Author: gladyssprenger Last modified by: Kerry Created Date: 4/7/2006 10:43:30 PM Document presentation format – PowerPoint PPT presentation

Number of Views:42
Avg rating:3.0/5.0
Slides: 62
Provided by: gladyss
Learn more at: http://www.cobar.org
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: 861 Silver Circle, Breckenridge


1

How to Commit Loan Fraud By Jonathan A. Goodman,
Esq. Frascona, Joiner, Goodman Greenstein,
P.C. 4750 Table Mesa Dr. Boulder, CO 80305 (303)
494-3000 (voice) (303) 494-6309
(fax) www.frascona.com jon_at_frascona.com
2
861 Silver Circle, Breckenridge
3
Listing History
  • Date Status Amount
  • Apr 4, 2003 On Market 625k
  • Oct 9 , 2003 Active 599k
  • Feb 14, 2005 Sold 763k
  • Feb 22, 2005 Sold 599k

4
MLS Listing History
5
1st Deed of Trust
  • 614,000 AMT
  • 80 ALTV
  • 102 PLTV

6
2nd Deed of Trust
  • 152,600 AMT
  • -157,000 EQUITY CUSHION

7
Loan Fraud? or Stupid Loan? or Neither?
8
15402 E. Arizona - Contract
9
15402 E. Arizona Purchase price and terms
10
15402 E. Arizona Additional Provisions
11
15402 E. Arizona - HUD-1 Settlement Sheet
12
Legitimate Downpayment Assistance HUD-1
13
4973 Malibu
14
Marked Plat Map of Subdivision
15
Rainbow Lakes Estates Subdivision
16
Foreclosures
Days
Date of
Relevant
Nominal
of
1st D.T.
2nd D.T.
2nd D.T.
Equity
ALTV
PLTV
on
Address
Sale
Listing Price
Sales Price
Puff
Amt.
Amount
Type
Cushion
Market
1164 Shelby
4/20/2005
675k
750k
18
600k
80
94
75k
Purchase
(40k)
91
4525 Malibu
2/25/2005
599k
700k
17
560k
80
93
140k
Purchase
(101k)
174
4834 Malibu
2/3/2005
599k
700k
17
560k
80
88
140k
Purchase
(101k)
345
NED July 9, 2007 Bid 590k Deficiency 0
NED March 21, 2007 Bid 495k Deficiency 98k
NED October 10, 2007 Bid 590k Deficiency
0
17
4335 Zenobia St.
18
Listing History 4335 Zenobia St.
19
Settlement Statement 4335 Zenobia St
20
4718 W. 34th Ave.
21
4718 W. 34th Ave. MLS Listing
22
4718 W. 34th Ave. - MLS Listing Contd
23
Settlement Statement 4718 W. 34th Ave.
24
4718 W. 34th Ave. - Torrence James
25
4718 W. 34th Ave. - Torrence James
26
4718 W. 34th Ave. - Torrence James
27
773 Josephine St.
28
Listing History 773 Josephine St.
29
733 Josephine St. MLS Listing
30
733 Josephine MLS Listing Contd
31
1st Deed of Trust 733 Josephine St.
  • 559.2k AMT
  • 80 ALTV
  • 117 PLTV

32
2nd Deed of Trust 773 Josephine St.
  • 139.8k AMT
  • 20 ALTE
  • Negative PLTE
  • -224k EQUITY CUSHION

33
Bid Letter 773 Josephine St.
  • Total Indebtedness 604,839.05
  • Bid 380,700.00
  • Deficiency 224,139.85

34
Contract Maplewood Dr.
35
Closing Instructions and Earnest Money Receipt -
Maplewood Drive
36
801 Race Street, Denver
37
801 Race Street, Denver
38
Listing History
  • Date Status Amount
  • Apr 18, 2006 Active 2,250k
  • June 2, 2006 Reduction 2,150k
  • Aug 28, 2006 Increase 3,100k
  • Aug 29, 2006 Under Contract 3,100k
  • Sept 20, 2006 Withdrawn 3,100k

39
Warranty Deed 801 Race St.
40
1st Deed of Trust 801 Race St.
  • 1,950,000 AMT
  • 65 ALTV
  • 90 PLTV

41
2nd Deed of Trust 801 Race St.
  • 450,000 AMT
  • 250,000 EQUITY CUSHION

42
(No Transcript)
43
Foreclosure
  • Loan Foreclosed 1st
  • Notice of Election Demand Sept. 24, 07
  • Bid 2,100k
  • Deficiency 0

44
(No Transcript)
45
3
46
(No Transcript)
47
(No Transcript)
48
(No Transcript)
49
(No Transcript)
50
(No Transcript)
51
Flow of information and money
Bond Holder
Packager
Mort. Investor
MB
Information

S
A
B

52
Who is being misled?
Bond Holder
Packager
Mort. Investor
MB
Information

S
A
B

53
Who is actually defrauding?
Bond Holder
Packager
Mort. Investor
MB
S
A
B

54
Tracking Fraud
55
Fraud by Mortgage Banker
56
Sleepless Nights by Association
57
  • IF ITS NOT FRAUD,
  • AND YOU DONT HOLD DEBT,
  • WHY SHOULD YOU CARE?

58
  • Inflated Purchase Prices
  • Stalemate Buyers v. Sellers
  • Inflated Real Property Taxes
  • More Fragile Real Estate Market
  • More Fragile Financial Markets

59
Closing the Barn Door
60
Fixes
  • Education?
  • New Laws?
  • Systemic Changes.

61
Systemic Changes
  • Chooser of Appraiser
  • Testers
About PowerShow.com