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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] War story from the inner sanctum... Posted by Ward-CA- on January 04, 2004 at 2:00 PM In Reply to: Questionable Tactics? posted by SeanW on January 04, 2004 at 7:04 AM : We've seen appraisal and mortgage fraud revealed lately b/c of the huge refi frenzy. So, it's not impossible that a trustee would collude with someone. : But I don't buy into conspiracy theories easily. If there was some kickback agreement going on, EVERY trustee would be involved. And I think the ones "not in" on the scam would rat on the others. : Do trustees ever engage in questionable tactics? Perhaps. I have heard, for example [from an ex-trustee], that a trustee sometimes quietly raises his fee when a property gets bid up. But that's something the lender faces, not the winning bidder. =========================== Sean, A number of years ago, when I was qualifying as a bidder for a trustee's sale, a substitute auctioneer voluntarily told me who the highest qualifying bidder was and the total amount he qualified for! I was so stunned, I couldn't believe what I had been told! Ever since then I have always taken a lot more money to qualify with than I ever intend to bid...just to throw off any collusion between any one of my competitors and the auctioneer. So I learned there's hanky panky everywhere in life...even in the sanctum of a foreclosure auction. Follow Ups: NUFF' SAID...JK!!! watchdog 2:44 PM, 01/04/04 (2) Watchdog - I think you are out of line Lughead 0:30 AM, 01/05/04 (0) Re: NUFF' SAID...JK!!! nate 10:05 PM, 01/04/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : We've seen appraisal and mortgage fraud revealed lately b/c of the huge refi frenzy. So, it's not impossible that a trustee would collude with someone. : : But I don't buy into conspiracy theories easily. If there was some kickback agreement going on, EVERY trustee would be involved. And I think the ones "not in" on the scam would rat on the others. : : Do trustees ever engage in questionable tactics? Perhaps. I have heard, for example [from an ex-trustee], that a trustee sometimes quietly raises his fee when a property gets bid up. But that's something the lender faces, not the winning bidder. : =========================== : Sean, : A number of years ago, when I was qualifying as a bidder for a trustee's sale, a substitute auctioneer voluntarily told me who the highest qualifying bidder was and the total amount he qualified for! : I was so stunned, I couldn't believe what I had been told! : Ever since then I have always taken a lot more money to qualify with than I ever intend to bid...just to throw off any collusion between any one of my competitors and the auctioneer. : So I learned there's hanky panky everywhere in life...even in the sanctum of a foreclosure auction. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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