This Weekend’s Hot Story

While it’s still free, check out this article in The New York Times‘In Prison for Taking a Liar Loan.’

It recounts the utterly fantastic tale of a how a small-time Countrywide borrower came to serve a 21 month sentence for mortgage fraud, while the bank’s senior executives literally walked away with billions, even as they helped wreck the U.S. housing market. 

The kicker?

The borrower/convicted felon has been stripped of both of his properties, and still owes Countrywide over $200k, thanks to a court odor order. 

In a nutshell, it captures what is wrong with so many institutions in this country at the moment . . .

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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