Mortgage Fraud Ring Uses Rap Song For Marketing

Residential real estate loan fraud is a national epidemic, the FBI says, costing an estimated $1 billion in 2005. In the interests of self-promotion, a Southern California mortgage ring has written a rap song about its activities, to be released April 1

We're the mortgage fraudsters, we on the down low we be gonna tell ya where the money goes It's a way to make money that's really fly Just get an appraisal set too high Steal some sucka's identity and pretend he's buying the property Lender kicks through with a $300K loan that's $50K higher than what you paid for the home listen my dogs let me put you hip you just completed a property flip And don't worry, you won't do time Mortgage fraud is a white-collar crime Someone said, I don't know when Some rob you with a pistol, some with a fountain pen I hope this rap don't give you a shock But take it from us - mortgage fraud ROCKS!

--Happy April Fool's! --

BIG THANKS to Janis Mara, Inman News for this great song!

Jannis has another story about how a Realtor markets properties with rap song - Miami Beach Realtor Phyllis D. Huguenin is marketing developments she likes, Aqua, where she has sold two units, and Setai, a project she presents to many of her customers, via rap songs. In one song, she says, "It's an oasis of tranquillity ... get lost in serenity. Come on, buy with me. Don't miss this opportunity," while her dawgs chant, "Don't be shy. Come on and buy."

Click HERE to listen to a sample.