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Real Estate Agent Strips His Own Foreclosure Home, Sells Fixtures on Craigslist

sacramento economyFor my own amusement, I sometimes scan newspaper articles sent from my Google alerts. Especially when a strange story catches my eye. What I find even more interesting than the story, sometimes, are all the comments from online readers. If you generally skip reading the comments -- and I wouldn't blame you if you did -- you're missing a collection of thought stranger than fiction.

A part-time real estate agent in Arizona was nabbed by the FBI for mortgage fraud. His name is Kailash Bhatt. He also worked for the state and as an instructor at University of Phoenix. When the bank foreclosed on his home, Bhatt stripped the foreclosure home and began selling on Craigslist the fixtures: the kitchen cabinets, granite counters and built-in appliances. It's considered mortgage fraud to remove fixtures that damage the bank's security for the mortgage. The FBI investigates mortgage fraud.

The comments on this foreclosure stripping story ran the gamut. Here is a sampling of what readers thought:

  • Bhatt is a terrorist.
  • The FBI should be spending its time arresting real crooks.
  • All real estate agents are criminals.
  • It's the bank's fault for not implementing a workout program for Bhatt.
  • The University of Phoenix is a toxic wasteland of crap.
  • Criminals come from India.
  • The federal government is to blame.
  • Bhatt should be allowed to strip his home.

sacramento foreclosures

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Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.

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Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Real Estate Agent Strips His Own Foreclosure Home, Sells Fixtures on…
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For my own amusement, I sometimes scan newspaper articles sent from my Google alerts. Especially when a strange story catches my eye. What I find even more interesting than the story, sometimes, are all the comments from online readers. If you… more