David Saks' Blog

Follow me
Industry Observer - TN LIC# 290452
David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !



      Mortgage Fraud Blog sends me an update email once per week.   The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Rachel Dollar is a California attorney who represents lenders in mortgage related litiga...
The owner decides to abandon the property he has listed with a brokerage. This will terminate the relationship that the broker has with the owner. True or false ? Take your time. The solution is posted below the wildlife photo. A. False  Abandoning the property will not terminate a broker-seller ...
When a real estate broker acts as the agent for the seller the broker has an obligation to disclose confidential information about the seller to the buyer if it helps the chances of closing the deal. True or false ? Take your time. The solution is posted below the wildlife photo. A. False When a ...
In a real estate transactionn, when one speaks of a fiduciary relationship their typically referring to a relationship that will allow another person to act on behalf of another with the additional privilege and grant of legal power  for the other persons affairs. Is this true or false ? Take you...
A house was built on top a pile of manure. The ceilings of the home we're also poorly constructed and poorly attached to any supporting members or beams. This would be considerd an example of a stigmatized property ? True or false ? A. False If the house was constructed on top of a pile of manure...
A buyer inquired as to whether or not a city landfill was going to be constructed on an adjacent lot in a new subdivision. The seller's agent replied that she didn't know even though the agent was fully aware of the fact and failed to disclose this to the prospective buyer. If the seller's agent ...
A buyer paid $460,000 for the house. The lot was valued at $65,000. The mortgage was for $200,000. After all is said and done, how much equity does the homeowner have in the place ? A. $260,000 First of all, the value of the lot has nothing to do with the calculation, so let's hope you don't figu...
Homeowner's purchase homkeowner's insurance because they know that homeowner's insurance will replace old furniture and roofs when these things need replacing. True or false ? A. False Homeowner's insurance doesn't cover replacement because of age, although it does cover financial losses created ...
A homeowner's house was constructed in such a way so that the floor of the house was built nearly two feet above a one hundred year old flood mark. The homeowner wants to apply for a federally related home loan. The lender must require flood insurance. True or false ? A. False The lender could ex...
A mortgage broker told a homeowner that he could deduct the appraisal fee from his annual gross income for income tax purposes. Is this true or false ? A. False It could be considered a fraudulent misrepresentation of facts regarding the loan from the beginning of the loan process. Loan discount ...

David Saks

Broker / Industry Analyst
Contact The Author

Most real estate fraud-related articles and Department of Justice Press Releases published here are taken from the public record, which normally include press releases and court documents related to each entry and case. Any other type of record, i.e. newspaper reports, are only published after consent has been obtained from the original publisher.
Nothing will be published that has not been verified via the public record or consent provided.
The use of the names or initials of the Federal Bureau of Investigation, the Drug Enforcement Administration, and the United States Marshals Service is governed by 18 U.S.C. sec. 709, which prohibits their unauthorized use in a manner calculated to convey the impression that such use is approved, endorsed, or authorized by that component, unless written permission has been received from the head of the respective component.
Where initials are found within this blog site they are not used in a manner calculated to convey the impression that such use is approved, endorsed or authorized by that component.
Please see the Department of Justice Legal Policies at:
Please contact David with any questions.

Photos © & Licensed by Nova Development