I know some poeple who are doing some shady real estate business. I
want to report them, but I'm not sure who to talk to. I would like to
remain anonymous if I did talk with someone, maybe if there were
somewhere I could give an anonymous tip? These people are buying
property cheap and working with an appraiser to bump the price up over
what the properties are really worth. Then re-selling them for a large
profit. I know they havedone work with a mortage company that passes
them on mortages that they are not even qualified for. I know there
were forged documents to pass them. There's a bunch of other things
their doing but I'm not sure what. Please someone help me, and let me
know where to report these guys to. They did my friend wrong, and I
want to stop them.  Also this is happening in the Philadelphia and New
Jersey area's

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Request for Question Clarification by tutuzdad-ga on 12 Oct 2002 18:08 PDT

You mentioned PA and NJ but in what state is the fraud taking place
that you are primarily concerned about?

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Clarification of Question by industry-ga on 12 Oct 2002 19:31 PDT

The fraud is taking place in both states.  They own properties in New
Jersey and Philadelphia. One of the guys owns a mortage company also
in NJ that I think pushes the mortage through. They also have a
property mangement company that maintains the properties they sell to
investors.

Hi there,

It appears that the most provable aspect of this would be the inflated
appraisals. I would contact these authorities, and report the
appraiser:

New Jersey State Real Estate Appraiser Board
P.O. Box 45032
Newark, NJ 07101
(973) 504-6480
http://www.state.nj.us/lps/ca/real/real.htm

Philadelphia State Board of Certified Real Estate Appraisers
P.O. Box 2649, Harrisburg, PA 17105-2649 
Phone - (717) 783-4866
Fax - (717) 705-5540 
http://www.dos.state.pa.us/bpoa/cwp/view.asp?a=1104&q=432589


Search Strategy:

state appraiser "New Jersey"
://www.google.com/search?q=state+appraiser++%22New+Jersey%22

Philadelphia state appraiser  
://www.google.com/search?q=philadelphia+state+appraiser


Best wishes,
robertskelton-ga

In the Baltimore, MD area this is known as "Flipping"
and the local authorities are actively investigationg it - and I am
sure the local areas States Attorneys and/or Consumer Protection
offices would be interested.
http://www.poconorecord.com/report/price2high/21.htm
http://membrane.com/mortgage/fair_housing.html
http://www.appraisalinstitute.org/about/news/4_24_02_paul_kanjorski.asp

http://www.oag.state.ny.us/realestate/realestate.html