Sellers Contributions or Kick Back of Any Kind is Mortgage Fraud, Banking Fraud, Tax Fraud and Creates a FALSE Real Estate Market.

Real Estate Whistleblower Complaint
Crystal L. Cox
Real Estate Industry Whistleblower

Sellers Kick Back - Sellers Contribution at Closing - Sellers Cash Back

Sellers Giving Buyers Money for Any Reason Creates False MLS Data, and is Fraud on the Banking Industry, I don't Care what your Realtor tells you....

Still the Banking Industry with the Help of the Realtors and I Guess the Mortgage Broker are Convincing Sellers that it is Ok and Legal to to Participate in "Sellers Contributions" or other ways that a Seller Ends up Giving a HUGE amount of Money back to the Buyer.

Oftentimes it is done Like this and The Mortgage Broker Calls it a Sellers Contribution.

The purchase price is Say $200,000 and the offer Comes in at $215,000 and the contract says that the Seller Will Contribute or whatever Wording works good in your area, it is still the same meaning... the Lender takes this as the Buyers Down Payment so they can FORCE the Buyers Loan THROUGH when Really the Buyers Does not have a down payment. Oftentimes this is even given back as Cash the Same Day as Closing, Flat Out CASH to the BUYER and the REALTOR tells the Seller it is Legal. Wonder if the Realtor Gets any Kick Back from Deals Like This? Anyway...

the Lender KNOWS, because the Lender Sees the Buy Sell Contract, they know that the BUYER does not REALLY have the Down payment, so what do they do CHANGE the Contract to Submit it to their Loan Approval Department ?

Appraisers Know, because most ask me for a Copy of the BUY - SELL so they can then make an Un-Biased Objective Market "Opinion" on the Value of Your Home.

So it is Just Matter of Fact, and No one Seems to Be Concerned, or Was ever Concerned that it was Creating "Values" that were not real and people were paying Higher and Higher Prices based on FALSE - MisLeading SOLD Data.

The Motivation - greed of course because these Middle Man Lenders, Mortgage Brokers that Deal With Lenders that Deal with Banks and on and on, often times they Get Commissions for the Life of the Loan which Can REALLY ad UP. The Realtor who pushes the deal gets the One Time Commission... well more on that later.. (there are oftentimes other kick backs)

Sellers Contributing Money to Buyers so they Can Get a Loan is Bad for Comparable SOLD Data, it is Bad for the Fraudulent Bank Loans that Put the Homes Value quite a bit higher, it is Fraud on the banking industry no matter how you look at it, it is Bad for the Seller as they Pay Capital Gains Tax on this Money - most won't mind because it is included in their Free Equity with the Capital Gains Exclusion - which is Still Fraud on Someone.

There is no Rational way to Say it is OK, it is Simply NOT the SOLD Price, and it makes the SOLD Data Wrong which affects the Next Sale. It is FRAUD, no matter what anyone is telling you.

If the only way a Buyer Can Buy a Seller's Real Estates For Sale is if the Seller Fakes a Down Payment so the Lender thinks that the Down Payment is Coming from the Buyer and will therefore give the Loan, Well then the Buyer Cannot Afford the Property and Will eventually Lose it Anyway.

From the Seller's perspective, many take the Deal because they NEED and Want to Sell and they don't worry of the Tax because it is Tax Free money anyway. So the Buyer gets the Property with no money down, and NOT with a NO Money Down Loan... the Lender makes it look like there is a Substantial Down Payment.

Still in 2010 this is Going on, after Trillions in Bank Bailouts Due to the Fraudulent Secondary Loan market, Still the Realtors are in the Field Bringing Contracts that Make it So the Buyer is Getting their down Payment from the Seller. And Shocking but I am Getting Reports that not only is this going on for Down Payments but to actually give Cash Back to the Buyers.

And the Realtors are Telling the Sellers that this is Absolutely Legal. You see the Buyer gets this money the day of Closing, so what in the World would STOP the buyer from taking the Cash Back saving it, staying in the home til' the bank throws them out.

Then After months of Free Rent when Foreclosure finally happens - the Buyer just walks away, Cash Stowed away and Money Ahead. Or the Buyer may use this money for the payments for awhile til' the get on their feet per say. The thing is, that Buyer Could not afford the Home. And this Real Estate Transaction Scenario is bad for the Real Estate Industry and Should be Regulated.

And it all Originates with the Realtor pushing the Deal on the Seller so the Realtor Gets Paid, Now it looks like the Seller gets Paid too. The thing is, in the long run the bottom of the Game Falls out, because it raises the VALUE in the MLS Data and the Next Person to buy, say the house next door, the Appraiser does not know to Compensate 0r Change the Data on SOLD information to "Correct" for a Scam that he did not know about.

So we know that the Seller is Liable for the Extra Money they did not really get, because the Tax Man looks at the Settlement Statement and you Pay based on the Selling Price. Now if there is a 1031 Exchange involved, where does this leave the Seller Kick Back Scam. Well then I guess it would be some sort of Tax Fraud.

Because your Exchanging the $200,000 you REALLY got, but the Paperwork says you Got More then that... how do Realtors Explain that to Sellers. It looks to me like the Realtor just gets loud and Says it is Legal and the Seller Sits down and Shuts up...

Now What about the Buyers Tax Consequences in this Situation?

Well when the buyer goes to Sell the Property. They Paid $215,000 - yet they Really Paid $200,000 so if they sell for $215,000 they have no gain right? But in Reality they Really Do have a Tax Gain. And this is Legal to the Realtor, to all who let this Contract go through... which would include the Title Companies, the Lenders, Banks and Mortgage Brokers?

Also what about the Buyers Income Tax, Well they were Flat out Given $15,000 and they won't claim it because the Seller Claimed it and it was Tax Free, if it was Capital gains to the Seller and not part of their "Exclusion" well then the Seller Paid the Buyers Tax based on Capital Gains when Really it was Income and Income to The Buyer.

Does the Realtor Disclose to the Buyer that when they Sell, their Tax base is $215,000 and not $200,000? From what I see when this situation arises - no one explains - DISCLOSES any of this implications of all of this To Anyone.

No one is Policing the Real Estate Industry, the Ground Level where the real corruption and problem is No One is Looking. And well the Players at that Level they are Just trying to Make a Living and they don't get paid for their Hard Work unless there is a Closing.

So the Pressure To Close the Deal Surpasses the Integrity of the Deal and the Protection of the Consumer gets lost along the way. Meanwhile, the False Values and MLS Data increasingly Becomes False and then SHOCKING now people have loans for more then their real estate is worth. And the Lenders that allowed this Fraud - that Blatantly Allowed Appraisals to Come in High and that allowed Sellers Contribution that Created the Market Collapse - they Get a Bail Out. The Home Owner should Flat Out Get a Debt Reduction.

Lenders, Banks, Local And Federal Governments are Ignoring this is Fraudulent Behavior that affects every aspect of the Real Estate Industry.

This is Fraud Against the Stock Markets based on the Secondary Lending Market, which Let's Face it the Entire Economy is Rooted in the Real Estate Industry and without integrity there, without real values and The Controlling of False Bubbles a Collapse is Un-Avoidable. Never think they did not see it coming, they created it and the socked away plenty of Money for the Cartel at the Top of the Lending Industry.

Realtors in All this, well they Do the Dirty Work. And most just want to Close the Deal and do not look at the big picture of what it is doing to the market. The Realtor, as does the other parties to the Transaction, they just want a pay check.

IT is up to the Regulators of the Real Estate and Lending, Banking Industry to STOP this madness and even in an Economic Collapse and Real Estate BUBBLE Big Time Burst, this Stuff is Still Going on. Oh wait there is No Regulators... and the "Voice of Real Estate" THE " National Association of Realtors" well they don't care and they are NOT interested in Lobbying for things that actually HELP the Real Estate Consumer.

And the Realtor in all this, is Telling the Sellers it is Legal, and So is the Mortgage Broker. And the Realtor is NOT disclosing the Tax Consequences, the Mortgage Fraud Aspects and simply pushing the deal through.... even Right Now Today...

The Real Estate Industry is Broken and NEEDS a Complete Makeover - RIGHT NOW....
National Association of Realtors, SEC Violations, Anti-Trust Violations, RICO Lawsuit.
More on my Yammerings on the Real Estate Industry at
www.RealEstateIndustryWhistleblower.com
and

www.RealtorSucks.com

National Association of Realtors, Sellers Contribution

JPMorgan, Goldman Sachs and Stolen Trillions. Shut Down the Federal Reserve.

"In response to Mark DeCambres' recent article "Jamie Dimon seen as good fit for Treasury" in the 11/24 edition of the online "New York Post," blogger Crown_Royal observed:
"Well Goldman-Sachs had their turn to STEAL trillions by placing ex-employees into gov. positions, so why can't JP Morgan? I mean it makes perfect sense. The SAME people who created TRILLIONS in debts for the USA and then stole TRILLIONS more in tax dollars, should def. be trusted to run the US Treasury! The Federal Reserve needs to be shut down, they are bankrupting the USA."

Source of Post and Lots of Good Stuff on JP Morgan at Link Below

http://www.jpmorgan666.com/

JP Morgan

Montana Board of Realty Regulations ... I am the Real Estate Industry Whistleblower - the REAL experience of ONE Broker Owner

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It has been almost a Decade as a Real Estate Agent and My Very First Audit is about to happen. I was a new, young Broker Owner, I had NO BUSINESS experience, I jumped right in - had 17 agents and away I went.
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An Audit Now after almost a Decade, hmmm wonder where that came from? Could it be because I yap and yammer about the Board of Realty Regulations NEVER auditing? Could it be the Realtor of NMAR whining to big daddy? Could it be all those Realtors attacking me at active rain?
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Could it be because I am telling the real estate consumer the TRUTH about the Realtors at

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www.RealEstateIndustryWhistleblower.com ?

Could it be because I own http://www.CharlesMcmillan.com/ which is the name of the NAR president, I own the site to prove a marketing point. Could it be because I own www.RealtorSucks.com and many other sites as an Advocate for the Real Estate Consumer?

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Well You bet it Could be, don’t think for one minute that the National Association of Realtors does not control your State board of realty. NAR has billions of dollars and they use it against the Real Estate Consumer.
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You Deserve the Truth, I have the COURAGE to tell you and for the first time EVER I am being audited. I had 17 agents, I got my Brokers license after 10 months as an agent, yes I waited til' the one year mark, so what I got it.. and no Audit... no help.. no assistance... no advice from the Montana Board of Realty Regulations. But here they are no doubt on request of the whining Realtors who are looking for a Way to SHUT me Up... Guess What I am NOT going anywhere anytime soon. I made a Promise to the Real Estate Consumer and I have the Balls to Stand up for it even it means taking on a Multi-Billion Dollar company, or Association as they prefer to be called.
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Since I started this Game of Broker Owner, I have seen consumers go to the "Board" for help and their "hands are tied" - they cannot fight the Association of Realtors .. no way.. no how... I have seen the Consumer brought to their knees with stress, put to shame and guilt when they were the ACTUAL victim, and I have seen Good People Lose everything while the Realtor walked away with no liability, no reprucussion and answering to No One.
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I was Good at "their" game... and I could have spent the Rest of my life in it making Big Money.. and Easy Money.. I can lie and manipulate with the best of them.... but my heart broke, my gut was kicked, my Moral Compass spun out of control and as I step away from the Greedy Illusion of the profession of "Realtor" , I will NOT just walk away in the "Code of Silence" I STAND for those who NEED to know... I Speak Out the Truth every Single Day... I care about your life.. Your RIGHTS matter to ME... Real Estate Affects all parts of our life and it MATTERS .... a Bad Real Estate transaction can be life or death, can be years of wasted money - time and effort, years of humiliation, can take your entire lifes work .. all while the big bad E and O insurance, the National Association of Realtor and the Realtor who lied to you and put you in this position go about Business as Usual without a care in the world while you suffer in silence as you fight for what you thought your were buying in the First Place.
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No I will NOT Shut up... So I Welcome Your Audit, I welcome the Attacks I get Daily from the Whiny Realtors and I Stand Up with more stories, more information and the Truth bursting on to page after page to HELP YOU and if I only help ONE of you out there to not suffer as I have suffered, as those I love have suffered, as the real estate consumers I tried to protect have suffered well then My Battle is Worth it...
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I have asked the Board for help on issues that concern consumers and I get nothing, they do not even provide us with advice or forms.. we have to JOIN the association of Realtors to REALLY practice real estate and make a decent living. The State Realty Boards enable, side with, conspire with and do as NAR tells them to do, in MY OPINION.
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the Big bad Board DOES Not look into Lying, Cheating, or Fraud. They do Not Checking MLS Data for accuracy who cares.. they leave that up to the Realtors.
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The "Board" does nothing to advocate for REAL consumer protection in Real Estate.
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When the Consumer Obviously, and Deliberately has been cheated and fraud and they come to the board for help, there really is NOT alot they can do to enforce the LAWS in the State of Montana. A Realtor lies to you and the Association of Realtor and the Board of Realty Regs is of no help .. you have to Get an Attorney and FIGHT.
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But when the Realtors whine that a Now Non Realtor member is Telling on them and yapping and yammering well here comes the state real estate licensing board to see what they can do to help the association of Realtors out. Can’t really say that I did not expect this.
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The Thing is I truly wish that the "Board" was out to protect, serve and help the real estate consumer - the public that pays their wages.. but Honestly I do not believe that they are.
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The State Governing Body has nothing to do with the MLS data, yet the accuracy of this data is what the entire financing industry is based on. The mortgage market industry, the collapse, that was all based in a foundation of real estate loans based on real estate equity built on Real Estate Data that was NOT and is Not policed for Quality Control of any kind.
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Why is your State Governing Body not made to REALLY police the Real Estate industry?
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Well probably because most real estate agents HAVE to be Realtors in order to participate in the game and the National Association of Realtors is left to do as they please in “policing” their own industry and they fail miserably.

Oh well, this failure pays Big Time.

And you’re the One Who Pays for it.. Find out more at
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www.RealEstateIndustryWhistleblower.com
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NMAR wants to Play Dirty, an Audit to Me.. Alrighty then The Truth has barely been told here… Stay Tuned for lots more stories on the Dirty Deeds of NMAR. And for those of you listening also Oregon Realtors and lots more REALTOR Tales...
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Got a Story of how a Kalispell Realtor, a Northwest Montana Realtor, or any Realtor has treated you? Have you Been Lied to? Has Fraud been committed to you? Did the Realtor lie and you LOSE…. Lets hear it Crystal@CrystalCox.com Time to Name Names, and EXPOSE the Truth. The Realtors are hurting you and you Have to TAKE it.. Even if they break the law. You the Real Estate Consumer cannot afford to make them pay, make them accountable and in my opinion NAR and your state governing body is of no real help to the Real Estate Consumer.
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You Folks Want to gnaw at my legs and yip at my heels.
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I will NOT back Down.
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The Real Estate Consumer Wants the TRUTH, they Deserve the Truth.
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Real Estate is Our LIFE, it is where we live, where we sleep and eat, where we love and raise our family, where we are sick, where we get well. Our Real Estate Transaction affect every single part of our life and the Real Estate Consumer Deserves Better then the National Association of Realtors is giving them. And NAR is forcing, enticing your governing bodies to get in there and assist the Realtor and forcing their way into your real estate transaction even though it causes more harm then good.

Coming Soon emails, marches to Washington, News letters, MAR attorney Lies, deliberate actions by NAR and MAR against the real estate consumer… and lots more inside information on NMAR on NAR and the Dirty little Secrets of the Association of Realtors.
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I have taken their abuse ENOUGH.
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The Real Estate Consumer Deserves the Truth.
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And you nitpicking me, threatening me at every turn in the road is NOT right and is NOT going to STOP me from telling the Real Estate Consumer the TRUTH they Deserve.
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I am the Real Estate Industry Whistleblower and You Cannot Take My Experience, my Truth the way it happened to me. I saw what I saw and it is STILL happening today... there is no end in site to the harm Realtors do to the Real Estate Consumer and they seemingly have NO LIABILITY...
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the Real Estate Consumer keeps coming back for more, they kind of have to. Yet NAR says that being a Realtor is not “Mandatory” BULL. Your State governing Body should, indeed, watch over the Association of Realtors at the State and Local Level but they do not, they are their for licensing purposes and to make sure you don’t break the laws in place by the state.
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Oh wait that’s not true either, because when you tell them what a real estate broker - a Realtor has done to you as a Real Estate Consumer they tell you there is nothing they can do and they suggest a Real Estate Attorney. Then you spend all your money and then some fighting for what the Realtor told you, promised you that you were buying in the first place.
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There is a serious gap in the State Regulating boards and what their responsibility is to the Real Estate Consumer. They DO not make Realtors follow the laws, they do not enforce the laws, but yet they do Audits every 9 years or so to make it look like they are Looking out for the consumer. However the Really big stuff that REALLY hurts the Real Estate Consumer, well Nobody is Looking at that anytime Soon.
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In My opinion the State Governing Body does the dirty work for NAR, they do what NAR wants because the do not have the Money or the Support to STOP THEM.
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They say a Real Estate Agent is Not a Realtor, unless they are a NAR member. Yet the State Board Does the Dirty for the National Association of Realtors. If they do not than NAR is not happy and they will STOMP their feet and make some NOISE…
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As a Real Estate Broker Owner which I still am to date, I do NOT feel that any governing body, licensing board, state law maker, judge, Association of Realtors, politician or any one else is out to or can really protect the Real Estate Consumer in the Current System of the Real Estate Industry. As it is REALTOR, the National Association of Realtors reigns king, and they are NOT fair, they are NOT just and they are NOT listening... not to the Broker Owners and not to The Real Estate Consumers....

oh maybe a Broker Owner in the Coveted Conglomerate of Apollo Management, Realogy or Cendant whatever name they go by now.. known to you as ERA, Coldwell Banker, Century 21 and Sothebys...
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www.RealEstateIndustryWhistleblower.com
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My Name is Crystal L. Cox, I am a Real Estate Broker Owner.

I gain NOTHING from telling the Real Estate Consumer the Truth and stand to lose everything... I am the Real Estate Industry Whistleblower and this stuff REALLY did happen to me and to my real estate consumers... the Truth is the Truth no matter what the REALTORS try and do or say to SHUT me up...

The Real Estate Consumer NOW has an Advocate whether they know they need it or not and I am NOT going AWAY.. so keep on coming, keep on tugging, keep on lying and whining to the board, to the association at all levels and to NAR... the TRUTH is the Truth... and I WILL keep Telling it...

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