For most of us, our homes are our most valuable asset. So when the housing market hits a slump....and prices drop...we all feel the financial pinch. You can blame the sub prime credit crunch, and an over supply of houses for much of the twin cities real estate woes. But there's another significant, contributing factor: fraud.
FOX 9 Investigator Jeff Baillon shows us just how bad it is, and one person who's made many homeowners unhappy. Click here for video.
Read how an unlicensed appraiser (Jennifer Penner) stole the identity of licensed appraiser, Melissa Zuniga, and continued appraising homes under the "assumed identity". This after being barred for life from practicing in the real estate field by her state's regulators for inflating values and "having her licensed yanked and paying a $7000 fine"
Zuniga said "Penner would brag about how much money she was making." "She said she cleared $200,000 at one point." "That's pretty good money!"
Our favorite excuse! When contacted by the investigator about how Zuniga's name could have a appeared on Penner's appraisals? . . . "It's because of a computer software problem".
Click here for video. Thanks to Patrick Egger for the video link!
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