Listen up homebuyers, these four states, Nevada, Maryland, Missouri and Illinois are considering laws to eliminate distressed sales
from appraisals in determining house values. This is just plain fraud, and house buyers will either get screwed by this law or they will boycott housing. It is time to boycott mortgages and the TBTF banks anyway, but if you are going to buy, keep an eye out on these laws which are just legalized fraud and a scam against buyers. These states need to wake up and quit thinking they are Bernanke and quit tinkering with the markets! Eliminating true price discovery is criminal. But I guess that is what politicians and banksters do these days. Don't buy anything because it is all manipulated!
And will this little scam pave the way for easy money lending once again? If prices are inflated will easy money loans make the banksters rich? Our leaders are fools. Archive Link