Can You Say, “BUSTED”??

June 23rd, 2008 category: East End LI Foreclosures, Real Estate News, Real Estate Philosophy

As a Southold, New York local, it was with interest that I observed the closure of several mortgage brokers- here one day, gone the next.

Having viewed the mortgage debacle as it roared through the little area known as the North Fork, it is with great pleasure (having seen the ravaged remains of those who bought into fraudulent loan practices that were ill explained to borrowers) to see that the Feds are FINALLY demonstrating the clout that had appeared missing during the “boom” years.

Evidently, according to the following article, those consumers taken by the banks (that are now taking their homes) will get the pleasure of viewing a white collar line-up.

Do you suppose that we’ll get to see mug shots? I hope so.

photo: Lance Kidwell - stock.xchng

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