How one household picked up nearly $5 million in mortgages for mansions

The pink three-bedroom house at 9430 Little River Drive in Miami might not look like ground zero for a real estate frenzy.

But it was there, in a matter of months, that two seniors and a 37-year-old woman secured millions of dollars in home loans for three ritzy properties in Versailles, as well as two in Palm Beach Gardens’ Osprey Isles and two condos in Wellington.

Adina Richardson picked up a $1.15 million, two-story home on Collonade Drive in Versailles, complete with arched doorway and architectural flourishes above the garage door.

Truck driver Rufus Richardson, then 70, purchased his own two-story, $1.05 million pool home in Versailles, also on Collonade.

It was a long way from the North Miami house each listed on mortgage records as their address: Almost three Little River Drive houses could have been squeezed into Rufus Richardson’s 4,155-square-foot Versailles property. And to that, he added a $430,000 condo in Mayfair at Wellington.

Full story is available on Palm Beach Post.com

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