Mortgage Fraud... No Big Deal?

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We are all aware of the current state of affairs in the real estate market.  Some say it’s not as bad as we all hear, while others say its much worse than we realize.  No matter which side of the fence you are on, there is no denying we are a long way away from the boom markets we experienced a few years ago.

The optimists will tell you that real estate markets are cyclical, and a down market always follows an up market.  That may be true, but the sluggish market we are experiencing today did not get there all on it’s own.  Amongst other things, it had some help from unscrupulous characters running mortgage scams.

Recently, a federal

What do you think?  Does around 3 years for mortgage fraud seem reasonable to you?

judge in West Palm Beach sentenced two scammers to 30 months and 37 months in prison for their crimes.  THAT’S IT???  Is it just me or does that seem like an extremely light sentence?  These are two criminals who both pled guilty to conning individuals and corporations out of millions of dollars, thereby contributing to a real estate market crash that arguably started a national economic crisis.  Three years punishment does not seem to fit the crime.  In fact, it almost sends the message that mortgage fraud is no big deal.

Date: Thursday, December, 4th 2008 @ 03:02:03 PM
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