Steal of a Deal
Houses bought at inflated prices. Millions in loan proceeds allegedly pocketed. All ending in foreclosure. In Colorado, it's one part of a nation-leading problem.
Article Last Updated:10/29/2006 03:56:18 PM MST
On an autumn day two years ago, Colorado issued a warrant to arrest Taiwan Lee, a state prisoner who had vanished on parole.
He hadn't gone far. While police looked for him, he bought three houses at inflated prices in Arapahoe County with the help of lenders who put up the entire $1.9 million.
posted by Dictynna @ 10:00 PM
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