The Wild West Says No To Mortgage Fraud
I love trying to write fun headlines.
Colorado lawmakers plan to introduce a bill this session which would make it a crime to coerce, compel, compensate, or intimidate real estate appraisers to obtain inflated appraisals. Targeting mortgage fraud head on, first time offenders would face misdemeanor charges, repeat offenders would face felony charges.
Colorado is facing the second highest foreclosure rate in the nation with 1 in 362 homes in some state of default or REO status according the RealtyTrac.
For more details on the proposed bill, check out this press release from Attorney General John Suthers. To see republicans and democrats working together is a nice change.
