Number	23711
Subject	Development
Source	Virginian-Pilot (Norfolk, Va.)
State	VA
Year	2007
Publication Date	3/18-3/20
Summary	This investigation exposed a development company that used vacant and neglected homes in low-income neighborhoods to make money by sellings them repeatedly at ever higher prices among a circle of investors, who took out larger loans each time. The company's stated goal of renovating the homes to rent them out was not accomplished.
Category	Contest Entry
Pages	63
Keywords	real estate; housing; FBI; fraud; lending; CM Development; landlords; Section 8; CAR; FOIA
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