Sheriff's appraisers cash in (Republican cronies rake in big bucks from foreclosures)

[sabra]

Source: Cincinnati Enquirer

Critics say sheriff's cronies rake in big bucks from crisis

As a record number of foreclosures battered Hamilton County homeowners and neighborhoods, six people - mostly politically connected friends of Sheriff Simon L. Leis Jr. - made record earnings from the foreclosure crisis last year.

They're the appraisers hired by the sheriff to determine the value of foreclosed properties before they're sold at a courthouse auction. Last year, the six appraisers each made more than $165,000. Two earned more than $250,000.

Only three of them are licensed appraisers, but the law doesn't require them to be. The lone qualification is that there be "an inquest of three disinterested freeholders" - that is, property owners - and residents of Hamilton County.

Most of the appraisers also have three other things in common:

They are 77 to 84 years old.

They are registered Republican voters.

They are consistent contributors to the Republican sheriff's re-election campaigns - usually giving $1,000 each at the sheriff's annual golf outing. Most years, they're the sheriff's biggest campaign contributors.

Read more: http://news.enquirer.com/apps/pbcs.dll/article?AID=/20080203/BIZ01/802030304/1076/BIZ

[trusty elf]

1. The scope of reshrublican corruption is breathtaking.

"Despicable" is my appraisal.

[jayfish]

8. It's Not Corruption,...

it's fascism. When you deregulate or refuse to enforce existing regulations then cut off avenues of redress that is what you have. These people will continue to cash in and we won't hear another thing about it.

Jay

[redqueen]

2. I like that they asked a Democrat about the situation

But critics say the payments are excessive.

"That's crazy," said state Rep. Steve Driehaus, a Democrat who's running for Congress. He served on a task force that examined foreclosure laws in Ohio last year.

"I think the word 'crony' is often overused, but in this case it would be very appropriate," he said. "And if this is going on in Hamilton County, imagine in the smaller counties - where it's very much a casual relationship."

I think the word 'crony' is UNDERused, myself.

[The Backlash Cometh]

3. Local gov. cronyism rears its ugly head.

[McCamy Taylor]

4. If they were Democrats, they would be doing the perp walk for the DOJ

[baldguy]

5. Same as it ever was...Same as it ever was...Same as it ever was...

Same as it ever was.

[Fenris]

6. Wow. That's quite frightening.

I'd wager that there are similar cases all over the country given the real estate dive.

[davsand]

7. Those appraisers violated professional standards in a huge way.

It is part of our national professional standards that your fee is not contingent on the value. While I have NO idea of the enforcement in Ohio, I will tell you that in Illinois that would be a huge no-no. I printed that article off and showed it to a few of the other appraisers I know and they all about fell out of their chairs.

This is just SO far beyond bad it staggers the imagination.

Wow. Just WOW.



Laura