Illegal property flipping.

[flippinout]

Flipping as a criminal scheme is a flip-for-profit scheme and the way it works is like this. The property is bought, flipped and resold with an artifically inflated value.

Illegal property flipping often involves collusion between a real estate appraiser, a mortgage originator and a closing agent. The cooperation of a real estate appraiser is necessary since a false and artificially inflated appraisal report is required.

This type of scheme is bad for the lender as often times their loss is a large one.

[homealone]

Scheme's like this really make it difficult for people to trust anyone, even those who have been honest their entire lives.

Its horrible to think that people are stooping so low as to do such things just to make more money. Though it sadfully happens every single day!!