Jun 24, 2013
Realtors call out CoreLogic tale as all wet (that is, not wet at all)
24 Jun 2013
Posted by Andrew Kantor
Realtors reading about a CoreLogic story were quick to call shenanigans, making for an amusing read.
In a round table discussion on mortgage fraud, Matthias Blume, senior director of analytics for CoreLogic, discussed a circumstance where a distressed homeowner poured cat urine on the rug so potential buyers are less inclined to make an offer.
Desperate times call for desperate measures. The home was being short-sold and the homeowners were not happy.
Realtor magazine reported the story as well… and Realtors were quick to point out an obvious flaw. How does one collect enough cat urine to "pour" on carpets? One Jim McCormack posted my favorite comment:
Yes, I am sure that many short sales fail because of cat urine intentionally poured on the carpets by the financially distressed homeowner because they have nothing better to do. My wife and I have 2 cats. Getting a small urine sample for the vet is absolute nightmare so I am guessing that "milking" a cat for several cups of urine ain’t happening.
That’s not to say that unhappy homeowners aren’t sabotaging short sales — just that someone might be stretching things a wee bit.