MSNBC presents the Housing Bubble in Four Chapters.
Over at Calculated Risk, there’s some news about Sunday board meetings, which “are never good news.” And over at the Washington Post: Anatomy of a Meltdown: The Credit Crisis (hat tip, Calculated Risk).
In Pennsylvania, a mortgage rescue scammer is looking at jail time after pleading guilty to theft by deception.
In court, [65 year-old Peter] Rogers said he founded his own company, Express Consolidation Refinance & Mortgage Consultation Inc. of Cinnaminson and Moorestown, in 1998. He reached out to homeowners he found in through foreclosure notices in the newspaper and “created the impression that he would save their home.”
Needless to say, he didn’t save homes, and instead stole over $100,000 from folks who could least afford to lose it. Some of the victims ended up in bankruptcy. The prosecutor has asked the judge for an 8-year sentence.
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