Posted on 10/07/2008 6:55:53 PM PDT by HollyButler
Let’s send the bill to the Mexican government.
This is the mortgage loan crisis hidden story coming to light. This is why Bush and McCain had that glazed over, defeated look in their eyes urging the bailout bill being passed. They have been hoisted on their own shamnesty petards.
In January 2006 (IIRC) Ted Kennedy himself said 20 million were here. Since he is a consumate liar I put the number at 30 million minimum back then and they have continued to pour across the border. Try and keep up. ;*)
ROTFLOL!!! That's a good one, Frantzie. Welcome to FR.
He was NOT nominated. He was chosen by the elite Kennedy wing of the so-called republican party.
It is almost as good as the scam which (makes) lets you write deals where the borrower is almost sure to default, insurance will cover damage to the property, and when you foreclose, the property value is sure to have gone up because the housing market is booming.
There are a lot of people on both sides of this scheme who made out pretty well.
Those of us who had nothing to do with it are getting screwed.
and if HUD says there are five million, you can probably figure in actuality there are ten million...
sooner or later, we are gonna have to “take out the trash!”
muzzies, illegals...all of ‘em!
The free flow of illegals and the financial *crisis* are symptoms of the same problem.
TEARING THIS COUNTRY DOWN TO THE POINT WHERE PEOPLE DEMAND GOVERNMENT ACTION.
GUESS WHAT THAT ACTION WILL BE? YOU GOT IT!
NORTH AMERICAN UNION, THE AMERO AND THE FULL IMPLIMENTATION OF THE SPP.
I guess twice..to three times as many as "officially" reported.
Staff Reporter, 06/02/08
Juan and Rachael Torrens pled guilty to conspiracy charges in connection with their participation in a recent multi-million dollar mortgage fraud scheme in South Florida. The defendants acknowledged as part of their guilty plea that their scheme produced over $15,000,000 in fraudulent loans, and resulted in losses of over $5,000,000 to various lenders. With Juan and Rachael Torrens‘ guilty pleas, 15 of the original 31 defendants charged have pled guilty.
As previously reported by Mortgage Fraud Blog, defendants Juan Torrens, the de facto owner of Amsouth Trust & Investment Corp. (”Amsouth”) and president of Countryside Land & Development, Inc., Rachael Torrens, president of 1st Choice Realty of South Florida, Inc. and de facto owner of First United Mortgage USA Corp., Daniel Ramos, Alfonso A. Muxo, a State of Florida certified real estate appraiser and owner of Palm Bay Real Estate Appraisals, Inc., and Katherine Harris, former president and part owner of Floridian Home Title Corporation, were charged with conspiracy to commit wire fraud and/or wire fraud for their participation in this massive mortgage fraud scheme.
The scheme involved fraudulent mortgage loans obtained for the purchase of 28 properties located in Miami-Dade and Broward Counties, Florida, and in the City of Marco Island. All except Katherine Harris have already pled guilty, and are awaiting sentence.
The Indictment also charges defendants Mario E. Diaz, Aurelio Pozo, Oscar Barreiro, Lellany Rordriguez, Jose Asensi, Carlos Morales, Damaris Jimenez, Lizabeth Perez, Mario Blanco, Rene Rodriguez, Tamaris Angulo, Alicia Loaiza, Ester Crespo, Jesus Enrique Guevara, Janette Lugo, Priscilla Fleitas, Erick Clavijo, Luis DeJesus Planas, Moises Llorens, Milva Roque, Aurora Ramentol, Gladys Lens, Nancy Fundora, Yanny Cruz Pavon, Roger Rosario and Jacqueline Perez-Castillo ("the straw buyer defendants") with wire fraud for their participation in this mortgage fraud scheme. To date, guilty pleas have been entered by defendants Aurelio Pozo, Oscar Barreiro, Carlos Morales, Damaris Jimenez, Mario Blanco, Jesus Enrique Guevara, Janette Lugo, Priscilla Fleitas, Moises Llorens, Gladys Lens, and Roger Rosario.
According to the Indictment, Juan Torrens would identify sellers of residential properties who were willing to overstate the true selling price of their properties. Daniel Ramos and Juan Torrens would then recruit and pay the straw buyer defendants to pose as buyers and ostensibly participate in the purchase of the selected properties. Defendants Rachael Torrens and Juan Torrens would prepare fraudulent mortgage loan applications for the straw purchasers that included false employment verifications, pay stubs, income and funds on deposit, and IRS Forms W-2.
Thereafter, to support the overstated sales prices on the properties and the fraudulent mortgage applications, defendant Alonso A. Muxo would prepare fraudulent appraisals attesting to the inflated property values dictated by Juan Torrens. Roger Rosario, an employee of Regions Bank, assisted the fraud by providing, on at least one occasion, a fraudulent verification of deposit in connection with a mortgage loan application for one of the straw buyer defendants.
To effectuate the scheme, defendants Juan Torrens and Rachael Torrens, together with the straw buyer defendants, would create and submit to the banks and lending institutions HUD-Settlement Statement Forms, also known as HUD-1s, which falsely stated that the straw buyers brought their own funds to the closings. Once the mortgage applications were approved, the lenders would wire the loan proceeds to the title company, Floridian Home Title, for closing. At closing, Amsouth, a company owned and controlled by Juan Torrens, would receive a credit for the difference between the inflated price and the actual selling price of the property. Defendants Juan and Rachael Torrens would make the payments on the mortgage loans to maintain the loans afloat until the properties could be resold again, often to another straw buyer.
When the Torrenses failed to make payments on the loans, some properties went into foreclosure, resulting in substantial losses to the lending institutions.
http://www.mortgagefraudblog.com/index.php/weblog/comments/husband_and_wife_plead_guilty_to_massive_florida_straw_buyer_scheme/
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FREEPER DB POSTED Here's what illegals did in my area: Family member buys house and gets teaser loan. Family member sells house to another family member for $50k more. That family member gets teaser loan. That family member sells house to yet another family member for even more again getting a teaser loan. They repeat this multiple times. The last family member defaults on the loan and goes back to Mexico. The other family members walk away with a couple hundred thousand dollars of the banks money through all the repeated selling between family members. No one is accountable. Now repeat this on a broad scale and you can get an idea of what was going on..."
ANOTHER FREEPER POSTED What we have seen in our area is a little less complex: An illegal or legal buys a home. They rent out the garage to 4 or 5 illegals for 3-5 thousand per month. Then, each spare bedroom in the house gets another 2-4 illegals at 2-4 thousand per month. None of this is ever declared as income. The home owners drive Lincoln Navigators and Tundra pickups. Down in E. Contra Costra county, the same thing happens, except the vehicles of choice were Hummers and Escalades.
Thanks for the link! I wonder how many went home or were deported? I remember seeing a while back that rendition was working in some areas.
Thanks for the ping!
Alot of that reverse migration is seasonally based and economically driven by US spending habits and slow down in construction. They’ll be back. Mexico remains an untenable place to live for a lot of Mexicans.
N-i-c-e take. Sucking up to latinos, they allowed the US economy to go down the drain. This is a crime of massive proportions.
Did McC torpedo Juan Hernandez yet (/sarc)?
Latino federales are salivating over the massive transfer of US wealth via a jet-propelled federal assembly line HEADED STRAIGHT INTO THEIR POCKETS.
McC needs to send this SOB Hernandez packing.
WOW!!
If Queen Elizabeth’s analysts think a mortgage would yield a profit they’d get it.
Man, that nails it, but good.
Candidate McC's trying to distance himself from Bush but the two of them look like ignorant dupes of amnesty hustlers. The two *******s got suckered into undermining US law-----and ended up destroying the US economy----sucking up to Third World con artists.
$50 BILLION was being taken out of our economy every year, transferred to Mexico.....but the two idiots still did not "get it."
Outrageously, they ignored the pleas of taxpayers and the reasoned arguments against amnesty. Now we are paying the price for their monumental stupidity.
Wait till the facts emerge that illegals drained our treasury using multiple identities to collect EITC, Soc/Sec. Workmen's Comp, SSI, welfare, food stamps, free health care, free schooling, housing allowances, etc, etc, etc, ad infinitum, ad nauseaum.
The invaders shut down numerous hospitals, sued everything in sight, overburdened our justice system committing viscious crimes, and made big bucks selling drugs to American youth.
Now they'll retire in luxury to beachfront condos with multiple US govt checks rolling in. Even when they go back, US checks will be blanketing the Third World til doomsday.
LOLOLOLOLOLOLOLOLOLOLOL!!!
5 million loans to illegals sounds about right to me. Many, many different combinations of illegal buyers.
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