States Attorney for the Western District of Missouri, Matt J Whitworth announced that the former president of the Hume Bank; Jeffrey W. Thompson, was indicted by a federal grand jury for bank fraud.

The Hume Bank was closed by the Missouri Division of Finance and the FDIC on March 7, 2008, and later assumed by the Security Bank of Rich Hill, MO.

Mr. Thompson aged 39 of Hume, MO became the president of the Hume Bank in 2001, he is accused of defrauding the bank and making false statements concealing problem loans. He is also accused of abusing the bank's credit card, using it for personal expenditures. (according to reports).

Some of the allegations involve loans to Brad Laning, a relative of Mr. Thompson's wife.

I have been helping the FDIC evaluate some of the property currently in foreclosure in Hume, MO; and from the properties I've seen the damage has just begun.

I did a BPO for the FDIC a few weeks ago that showed the actual property value to be drastically less than what was loaned against the home.

This is just another example of lenders and appraisers over-valuing homes and buyers walking away with a huge debt that cannot be recovered by liquidating the assets.

Thanks for visiting Bates County Real Estate.

I got a call from some folks with the FDIC last week, they have a property in Hume, MO they wanted a BPO (Brokers Price Opinion) on.

So Saturday my grandson Cody and I hauled on down to Hume, MO to check it out. I had been told to contact Gloria Appleberry with Glory Real Estate to get the keys, but she didn't have them. She told me to call the Hume Bank, which is no longer the Hume Bank but had been taken over by the FDIC and sold to Security Bank of Rich Hill, MO.

Well after a few phone calls, it seems nobody has the keys, so its a good thing I took my lock pick kit with me.  I picked the locks with relative ease and got right in the home.

The house or sort-of house/trailer building located at Rt. 1 Box 175A Hume, MO 64752 was actually a trailer with a house built onto it.

It was a lot larger than I expected it to be, with 4 or maybe even a fifth bedroom. There was a garage behind the house, but no way to get a car to the garage because of the fence.

I took a lot of pics for the lender and here are a few of them.

We drove on  through town and took a few shots of the rest of Hume, MO. I take every chance I get to photograph what I see.  You never know when you may not get to see it again.

So here's a few more pics of the great town of Hume, MO

I'm headed over to Hume, MO this weekend to take a look at a property there for a BPO. The lender wants to know what I think the house is worth.

The home is located at Rt. 1 Box 175A Hume, MO 64752. The  folks requesting this BPO gave me Gloria Appleberry with Glory Realty as a countact. She's a nice gal, helped me out with the location and told me the key is probably at the Hume Bank.

So I will trek on over to Hume this weekend to see what we have there.

I was doing some looking and it appears there are only three homes listed for sale in Hume, MO. Here is a link to those listings on the MLS. The link will expire after a few days, so contact me if I can be of further assistance.

http://portal.heartlandmls.com/de.asp?k=49468XEEBV&p=DE-1676427-637