Aleem Hussain Mortgage Broker and Real Estate Agent gets 5 years in federal prison

 

Victoria Ragsdale AKA Vicki Ragsdale Appraiser gets license revoked (See fraudulent appraisal below)

 

What We Were "Sold":

The Model Center

 

The "Sales" Packet:

 

Photos submitted by the certified appraiser (Victoria Ragsdale)

The HUD1 (who got paid):

1.) Pinnacle Direct Funding approves the appraisal and collects a cool 30 year mortgage for $180,499 plus closing fees

2.) $38,790.86 goes into escrow for "rehab"

3.) The appraiser gets paid $300 for her nice work

4.) $6,643.24 goes into escrow for "Condominium Reserve" which somehow disappears

5.) No Fee Realty (Alan Randel broker) collects $18,173.64 in commissions but was not charged

Alan Randel was not charged for any wrong doing.

Now AmeriTeam Realty, Orlando

The Scam (What we really got):

1.) Late Payments from the Lease Back Program then finally NO payments

2.) Here are actual photos of the condo.  Notice they are somewhat different from the model and the photos that the appraiser put in her report.

We tried to fix it up to sell then the complex was condemned and turned into low income housing.  Condo special assessment expected to be $50K plus per unit.

we were forced to sell for