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Reverse Mortgage Fraud?

Image by Schodts
I have no idea what the exact story is about this house….but the first thing I thought was….

I wonder what the neighbors think?

Driving out of Palm Springs last week I noticed the graffiti on this house. Which is odd enough….but after looking a bit more I realized…someone had been especially upset with their lender, mortgage company and realtor.

If you click through on the picture … All the tags on the right are directly from the picture. I put in "Alleged" because I obviously don’t know anything about what’s going on except what the graffiti tells me.

I’ll post a bit of the story here when I have a chance to research it.

UPDATE: When I was in Palm Springs over New Years (Dec. 31, 2008) I drove by this house and everything had been cleaned up. I still don’t know any more about what happened than when I started.

Mortgage rates edge higher
Mortgage rates rose for the first time in six weeks as nervous homebuyers remain on the sidelines.
Read more on via Yahoo! Finance

In 2006 Peter Schiff tells over 1000 mortgage brokers they are about to be out of jobs. Watch how he completely nails the coming real estate/mortgage debacle before anyone else even realized it was coming.

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