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 !
What would be the depth of a rectangular lot containing 1080 square yards with a frontage of 90 feet ? Take your time. The answer is posted below the wildlife photo. A. 108 square yards First find out how many square yards equal 90 feet by dividing 9 (the total number of square feet in one squar...
A seller wants to trade his residence at a price of $157,500 subject to a mortgage with a balance of $62,400 for a multi-family housing unit with a price of $623,500 with a mortgage of $366,750. What's the amount of the total cash difference ? Remember to take your time. The solution is posted b...
The selling price of a home was $930,000.The broker agreed to a commission of 5%.Other charges applied from escrow amounted to $9500.How much money did the seller receive at closing ? Remember to take your time. The solution is posted below the wildlife photo. A. $874,000Let's find out what the ...
If the interest rate is 4.5% and the monthly interest payment is $212.50, what is the principal sum due ? Please take your time. The solution is posted below the wildlife photo. A.$56,666.66 Easy !Multiply $212.50 times twelve months to get $2550 total interst payment and divide $2550 by 4.5% or...
  A man bought two 60 foot lots for thirty thousand dollars each and decided to divide them into three lots consisting of equal frontage. He sold each lot for $24,000.What the percentage of his gross profit ? Please take your time. The soluton is posted below the wildlife photo. A. 20% gross prof...
What is the interest on $80,000 at 4.5 % per annum for nine months and fifteen days using a bankers calendar (360 days)? Please take your time. The solution is posted below the wildlife photo. A. $2850 Let's multiply the interest rate times the loan amount, 80,000 times 4.5% (.045) and we see th...
  See If This Groove Can Get Your Mojo Workin' ! Have a Great Day and Save Somebody's Home ! -David-
Oral Testimony of Secretary Julián Castro U.S. House Committee on Financial Services Hearing on the Federal Housing Administration Wednesday, February 11, 2015 Washington, DC   As prepared for delivery   Chairman Hensarling, Ranking Member Waters, members of the Committee — thank you for inviting...
Hidalgo HUD Officials Charged with Conspiracy to Commit Bribery and Embezzlement U.S. Attorney’s Office February 10, 2015 Southern District of Texas (713) 567-9000 MCALLEN, TX— Susana Munguia, 61, and Lubina Pedraza, 54, both of Hidalgo, have been arrested and charged with conspiracy to commit b...
      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...

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