Dear Readers and Subscribers,
In February 2012, I published the first and only book about short sale fraud, aptly titled “How to Commit Short Sale Fraud . . . and Get Away with It.” The purpose of this book is to educate the public and law enforcement about the financial and societal consequences for what is essentially an ignored and unprosecuted crime.
My book explains the economics that led to the development of short sales, how a legitimate short sale should be processed, examples of non-arm’s-length short sales, the very short list of prosecutions that have occurred and who is to blame for the lack of prosecutions. It also talks extensively about the market for REO (foreclosure) properties and the frauds that occur with those sales.
This second edition updates a lot of information based on events that have occurred since the original publication. There are new cases that have been prosecuted – but sadly, just a handful – and more literature on the topic of short sale fraud including more schemes. I’ve also updated some of my recommendations as to what can be done to mitigate this increasingly ubiquitous crime.
If you are in agreement that short sale fraud is a problem in your community, I urge you to read my book, which has been written and organized very much like a white paper. It has extensive footnotes in the form of hyperlinks and addresses most of the issues and complexities surrounding short sale fraud.
My book can be purchased for Kindle devices on Amazon.com at this link:
(Note: if you do not own a Kindle, you can still purchase and read the Kindle version on your computer and/or laptop by downloading the free application from Amazon.com.)
If you have an iPad, you can purchase my book on Smashwords at this link: https://www.smashwords.com/books/view/131921
Many thanks to all my readers for their support, their kind words of encouragement and their observations.
Monique Bryher / Publisher
California Real Estate Fraud Report
p.s. As a sidebar, there are now other professionals raising their voices against short sale fraud, e.g., this link at Nolo Press is called “Short Sale Fraud: Three Scams to Avoid.”