Broker is facing mortgage charges - 2004-01-30
A Rochester real estate broker cheated federal mortgage insurers out of almost $600,000 between 1998 and 2003, federal prosecutors allege.

A federal grand jury Thursday indicted local broker and appraiser Edwin “Andy” Kane, alleging that Kane committed “equity skimming” by failing to pay down mortgages on at least 16 city homes with rental money he collected.
Read the full story at Rochester Democrat and Chronicle

Cash purchase or mortgage for a home? - 2004-01-30
Dear Dr. Don,
Which option is better: purchasing a home for all cash initially (to get a good deal) and then taking a mortgage out on the home, or buying a home with a first mortgage?

If I do pay cash and take out a mortgage later, will it be a second mortgage even if I do not have a first mortgage? Can I refinance/convert this second mortgage into a low-rate first mortgage?
JC Cash
Read the full story at Bankrate.com