imagesWarren wrote anti-foreclosure books while she was snatching up foreclosed homes for big profits, now pushes high-risk mortgages in Senate

Massachusetts Senator Elizabeth Warren has been an outspoken critic of housing speculators, accusing them of preying on the poor.

Even her autobiography lamented house flippers as vultures circling the poor and suffering, writing, “everyone seemed to have a story about someone they knew who was getting rich by flipping houses.”

So it should come as no surprise Warren built a small fortune off the foreclosure crisis, snapping up homes at bargain prices from the elderly, sick and jobless and pocketing piles of cash by selling them just months later.

And as a United States senator, she’s pushing legislation that would mean huge profits for house flippers.

National Review’s Jillian Kay Melchior and Eliana Johnson reveal how the Democrat best known for lying about her ethnicity to snatch up a lucrative teaching position made money using practices she calls unethical.

In one case, Warren made a nearly 400% profit off an elderly woman in just five months.

In 1993 Warren convinced Mary Frances Hickman to sell her the Hickman family home, a 924 brick house on a corner lot in a historic neighborhood, complete with hardwood and tile floors, a multi-car garage and butlers quarters. The family matriarch and owner, Veo Vessels, has recently passed away.

Warren convinced the 70-year-old stroke victim to give her the house for only $30,000, about one-fifth of its value.

Just 20 weeks later, Warren sold the elderly woman’s childhood home for $145,000, pocketing $110,000 in profit.

Hickman’s family was stunned by the sale.

“It (the house) was really, really nice,” Hickman’s granddaughter, Andrea Martin, told National Review (NR). “Maybe she got bad advice, maybe she was just tired.”

Warren’s business practices should be even more stunning, considering at the time she was writing books criticizing the very business she was engaged in.

In her 2006 book All Your Worth, Warren blasted house flippers as scam artists, lecturing readers to be wary of people who promise “you can make big money buying houses and flipping them quickly.”

In a 2002 book, The Fragile Middle Class, Warren accused house flippers of preying on the vulnerable, lamenting that they buy homes at foreclosure sales, which are “notorious for fetching low prices.”

Warren wrote these anti-foreclosure books at the very same time she was buying foreclosed homes at low prices and selling them for huge profits.

NR reports Warren bought a home on N.W. 14th Street in Oklahoma City for $4,000, at a 1993 foreclosure sale. In 2004 she transferred the home to her brother, who sold it in 2006 for $30,000, a 650 percent profit.

She bought another Oklahoma City foreclosure at a June 1993 auction for $61,000. She sold it 18 months later and pocketed $34,000 in profit.

“Even excluding the property sold by her brother, Warren and her husband have made at least $240,500 flipping homes (before deducting the unknown sum they invested in remodeling),” NR commented.

Warren has been using her Senate seat to push the government to provide more mortgages to borrowers at a high risk of foreclosure.

In 2014 Warren led the charge against a mortgage reform bill sponsored by Senators Ron Johnson and Mike Crapo that would reduce the number of foreclosed homes on future markets by curtailing lending to high-risk borrowers by Fannie Mae and Freddie Mac.

“Warren has focused on two central aspects of Johnson-Crapo. First, the bill’s weak language on affordable housing provides no homeownership mandate, and no requirements to make loans in underserved markets,” the Huffington Post reported in July 2014

Those would be the markets with the largest number of borrowers who default, feeding a market for house flippers, like Warren was, before scamming universities and voters.