A little segue this morning……..
I have been wondering if Bill Erpenbeck was in Coleman.
Cincinnati news is reporting that Erpenbeck was just released from a Florida prison after serving 21 of his 30-year sentence.
Those of us from the Tri-State area area might well remember Erpenbeck. He was the (Northern Kentucky) developer found guilty of fraud — to the tune of 34-million.
Erpenbeck built housing developments, nice ones. He was living high on the hog while defrauding his subcontractors and banks. (He was in cahoots with a bank president.)
People lost their homes because of him. Some of those people had paid cash.
The Erpenbeck story was all over the local news as it was originally unfolding in the early 2000’s……..
The moral of the story: Cash buyers who remember Erpenbeck are probably willing to spring for the cost of owner’s title insurance…..
When you buy a house for cash, you are the bank. . .So?
Act like a bank.
Situations can vary, of course, but when I hear someone bragging about buying a house for cash and saying they don’t need no stinkin’ (owner’s) title insurance, I always want to tell the tale of Erpenbeck. ( I wonder what he will do now that he is out of prison. He is 63.)
Boomer
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Pogo was right.
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