More FHA Corruption - Short Sale Fundamentals
 
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11
Mar

More FHA Corruption

FHA-Lend-America You know, hearing stories about corruption come out of Washington used to get me really mad. I’d hear about all these people trying get rich using the most underhanded things you can imagine.

But then I realized something. By the time it gets to the news, or comes out in court, the story is really months or years old. So getting mad now is just a waste of time. The damage was done way before, we’re just slow hearing about it.

Today’s news item is a perfect example. It came out in Federal court this week that Lend America, a company working with the FHA for several years, illegally lent out $14 million in FHA loans. They claimed the people they were lending to met FHA requirements but they actually didn’t.

Once this news came out, Lend America lost its deal with the FHA, was defaulted by Ginnie Mae, and closed up shop. Most of the blame falls on VP Michael Ashley who’s been in trouble with the government before.

So how does this news make you feel? FHA loans going to people that don’t deserve them or need them?

But then I thought about it for a minute. This corruption is going on all around us. We only get to hear about it when the people get caught. But by then, it’s way too late to do anything. No one is preventing this from happening. They’re just hoping that the criminals won’t get away with it for too long.

So honestly, by the time it gets to the news we should all be way past feeling mad. Unfortunately, our system has lots of holes,and we just need to try and plug ‘em as quickly as possible.

If this kind of news still bothers you, let me know.

  • Jon

    It seems to me the government and the officials are just puppets of the banks, oil, and drug companies. They spend more money trying to get laws passed that benefit them then the good it could be doing fot the people they are suppose to serve.

  • Bonnie Gentry

    Naturally it bothers me. Those of us who work hard and we get it in the pocket book for these kind of injustices. He should go to prison where he has a lot of time to think about what he did.

  • Elwood L. Nielsen

    Corey Boatright; I agree corruption has been around since Adam , and garden of Eden, but, in my 85 years, 78 of which I have clear Memories, Corruption, on the part of Leaders
    trusted with positions of responsibility, has been present , BUT, never, to the extent as seen today, with a descendant of Cain, as President of the United States of America, a Christian Nation. A president, a Cobra Coiled and ready to Strike with vengeance, while asking our citizens to quote, “TRUST ME”.



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