Revisiting the issue of ForeclosureS.com 5 million listings claim, Foreclosure Research discovered another discrepancy with the data provider’s listings.  That issue was that the company may be using .. not so true.. listings as a type of filler, in order to boost total listing numbers.

Nevada seems to have many of these types of listings with Lyon County, Nevada being the biggest offender.

In the image above readers can see a screenshot of a search results page for Lyon County, Nevada.  This shot was taken two weeks ago from today.  However, revisiting the same page today, you will find the same listing at the same page.  However, this listing, or loan amount, begins at page 34.  The listing, for $65,000,000 is repeated from page 34 to page 46 for a total of 220 individual pre-foreclosure listings with a loan amount of $65,000,000.

While the repeated loan amount isn’t suspicious enough, the listings type varies from vacant land to single family residence.  It also has varying market values starting at $280,000, which begs the question, how can a listing with a loan for sixty-five million dollars have only a market value of two-hundred and eighty-thousand dollars?

Page 6 through page 14 has yet another repeated listing; however the loan amount for this particular pre-foreclosure is for $100,000,000 (see picture above).  Again, the market value on this particular repeated loan amount ranges from $164,000 to $213,000; again, a difference of over $99 million.

Only a couple of pages down at page 20, a user will find other listings with a loan amount for $2,215,000.   This listing, or loan amount, repeats until page 29 for a total number of 180 pre-foreclosure listings.  Similar to the previous listings, the loan amount of exactly $2,215,000 ranges from vacant land to single family residences, and the market value also ranges from about $211,000 to $260,000.

When a user jumps to page 50, another replicated number appears.  In this instance the loan amount is for $10,650,000.  This listing is duplicated, or at least seems duplicated for about 3 pages.  Again, the market value for each individual listing ranges from $292,000 to about $302,000.

The total number of exorbitant loan amounts or duplicated listings totals around 620 listings.  Keep in mind, these were only from a sample of pages taken, the remaining pages could also have similarly irregular listings.  While it could possibly be true that 180 pieces of $100,000,000 land could have been foreclosed; at what value is that to the individual investor?  It is highly unlikely that land worth $100,000,000 would be sold for a measly $213,000- especially 180 times over.