This property is located on the 5500 block of Kirk Circle, in Park View Terrace, Centennial, Colorado. Map page 350, section N for those of you with Mapsco. This is not a ghetto.
The house next door and the house directly across the street are vacant. Imagine if you owned a nearby home and were trying to sell, and this is what prospective buyers saw. Think this scene might cost you $20,000?
For example – a nearby house at 5532 Kirk is listed for sale. The listing history shows this property has been on the market since October 12, 2006 – about 3 months. The listing says it’s a “short sale”. They started out asking $244,000, but quickly lowered the price to $225,000. Timothy Scott Turpin is the owner of the property. He bought this house 2 years ago.
The prior listing shows that Ed Bannias was the listing agent. After 126 days on market, Ed raised the price $400 and reported a seller concession of $zero. Timothy Scott Turpin got a mortgage loan from the good people at Fieldstone Mortgage, the same bunch of yahoos who helped fund the Tieskotter shopping spree. According to the deeds report, 2 months after Tim Turpin bought the house for $231,900, he was able to obtain a $241,000 FHA loan thru Consumer Financial Services Corp. Presumably Tim Turpin put $10,000 cash in his back pocket because somehow the property went up $10,000 in 2 months. Does anyone see a problem here?
Less than 2 years later, Tim Turpin can’t sell for $225,000. And guess who will pick up the tab for the difference? The American tax payer will get screwed (again), because HUD (the Federal Government) will be stuck with the short end of this stick.
If you look closely at this photo (click on the image for larger size) you will see that someone shoveled a path to the junk in the driveway, but the snow on the sidewalk is not shoveled. As I drove around this neighborhood, I saw many (way too many) vacant houses with the sidewalk not shoveled. School starts up again on Monday, January 8th, 2007. All of the school children in this neighborhood who walk to school (or walk to a school bus stop) will be walking in the street. I am very concerned about the safety of all the local school kids.
Shame on you Alphonso Jackson.
tags / View From the Trenches
mortgage fraud real+estate Timothy+Scott+Turpin Ed+Bannias Fieldstone Tieskotter Consumer+Financial+Services+Corp FHA HUD Alphonso+Jackson
technorati ping / blog phil.rice / Real Estate Yard Signs / fraud / mortgage / real+estate / Timothy+Scott+Turpin / Ed+Bannias / Fieldstone / Tieskotter / Consumer+Financial+Services+Corp / FHA / HUD / Alphonso+Jackson /