Lawsuits Allege System Used to Cheat Mobile Home Buyers
Emerson Estates along with appraisers, insurance agents, and mortgage brokers are accused of inflating prices and foreclosure rates. The companies give borrowers loans despite poor credit, refinance property they had just bought, and appraise homes for much higher than actual value. These practices create problems for banks because borrowers are defaulting on loans. Purva Patel, Houston Chronicle 04/01/2006 Read Article: Houston Chronicle
Emerson Estates along with appraisers, insurance agents, and mortgage brokers are accused of inflating prices and foreclosure rates. The companies give borrowers loans despite poor credit, refinance property they had just bought, and appraise homes for much higher than actual value. These practices create problems for banks because borrowers are defaulting on loans. Purva Patel, Houston Chronicle 04/01/2006 Read Article: Houston Chronicle
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