the housing scam

this is how it works.
someone puts up a house for sale for a very large amount of money.
this person finds someone who agrees to buy it.
The banks give loans to just about anyone so they give them the loan
this "buyer " defaults are a few months
in the mean while the bank has paid the original seller
seller pays off "buyer" who although now has bad credit also has maybe 200,000
in his pocket ( after some time or in a backdoor way)

ha ha ha
try and catch them or prove it is illegal

--
Kraig Grady
North American Embassy of Anaphoria Island <http://anaphoria.com/>
The Wandering Medicine Show
KXLU <http://www.kxlu.com/main.html> 88.9 FM Wed 8-9 pm Los Angeles