The Sail on Brickell Penthouse 2 Bedroom/2 Bath Foreclosure – $299,900

March 21, 2008

In September of last year, I revealed a very compelling piece about the apparent mortgage fraud at The Sail on Brickell. At the time, a 2 bedroom/2 bath at The Sail on Brickell had recently sold for $670,000!!! Now, there’s a bank-owned 2 bedroom/2 bath Penthouse condo at The Sail on Brickell that is listed at $299,900. Was I right about the apparent mortgage fraud or was I right?

I urge everyone to read my post in September. It will provide much insight as to how prevalent the mortgage fraud was back then in Miami. I actually reread my post and I was like “Damn! That was a great post”. Back then I didn’t have many readers. My readership was made up of just around one hundred people.

Currently, there are two 2 bedroom/2 bath short-sales at The Sail on Brickell listed for $599,000. Both short-sales are the condos that I discussed in my July and September posts that had recently closed. This makes it apparent to me that the buyers never had the intention to hold these condos but rather defraud our U.S. banking system. Our banking system in this country has enough problems. I’m very upset about my findings. Very!

Here are the two condos that were sold at The Sail on Brickell in July and September:

• Unit 2504 was listed at $670,000 and sold for $670,000
• Unit 2204 was listed at $670,000 and sold for $670,000

Both were sold by the same broker. <<<<<<<<<<<<<

Where is the mortgage fraud task force when you need them?