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Resource ID: #16134
Subject: Real Estate
Source: WBAL-TV (Baltimore)
Date: 1999-12-01



WBAL-TV reports "an investigation that focuses on a real estate scheme in which longtime landlords and speculators "flip" deteriorating properties to unknowing buyers and investors for highly inflated prices. The extent of the scheme .. as many as 2500 properties in the city of Baltimore are involved. The scheme has caused a dramatic increase in mortgage foreclosures and personal bankruptcies and has further contributed to the demise of many struggling neighborhoods."

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