If
you are behind on your
payments, you may be looking for any help you can find.
But, don’t fall
victim
to scams, ask a licensed professional for help! You see, every day
people are
looking for new ways to scam home owners who are in trouble and today I
heard
of yet another and this one just makes me mad.
What
these scammers do is
wait for the notice of default list to come out and then approach the
home
owners who are in trouble and promise them help getting
out from under
their
mortgage without having to pay them a dime! They tell them, “If you go
to a
real estate agent, they are going to charge you 6%-7%, who do you think
pays
that? It certainly won’t be the bank, you will in the form of a note.”
(Of
course, as we know this is a lie, but to a home owner who is trouble
this
sounds pretty convincing.)
They tell the home owner,
“You will need to move out, the bank won’t
want to do
a short sale with someone who is still in the house, they
are afraid
you are
going to stay after the sale.” Then they say, “We will approach the
bank with a
completely staged home that is sale ready and we will put one of our
buyers in
and the bank has to say yes because the buyer is already in the house.
It is a
win-win as our buyer is already in the house. This takes about a total
of six
months, but you won’t have to pay any more payments and your credit
will be
saved.”
Here is the problem…
Then
this person puts a
renter in the property for that six months, all the while the home
owner thinks
the payments are being taken care of by the “NEW BUYER”.
The scammer is
collecting rents on a property that he doesn’t even own. Well, we all
know what
happens after six months. The property gets foreclosed on, the renters
are out,
the seller is out and scammers made a good $10,000 and are nowhere to
be found
because they used a fake name.
This is the call I got
today from a lady who was crying on the phone
because
she didn’t know what to do. She didn’t realize it was a
scam until the
day
after the auction, that is how good these people were. I told her to
contact a
lawyer and the police immediately as this was a crime. I couldn’t do
more than
that for her, but I can warn others of this scam. People like this that
are
willing to take advantage of people when they are already down need to
be put
in jail for a very, very long time!
Todd Clark - Broker / Sales Coach
Palazzo Realty Group
Phone: (503)524-9494
Fax: (503)622-8739
©2009
Todd Clark - Behind
on your payments? Don’t fall victim to scams, ask a licensed
professional for help!
Todd,
"ask a licensed professional" A licensed professional what?
REALTOR? (Most have No training in the field.)
Lawyer? (Most have No training in the field. May aggravate a little problem in to a BK!)
CPA? (Most have No training in the field. Can't help, but you'll be well documented for taxes.)
Meaidtor? (Most have No training in the field. Many weren't in the field 6 months ago.)
In Nevada licensed professional ladies? (Most have No training in the field. Can't help, but when you're... at least you'll have enjoyed it.)
Frankly with out a good referral odds are a Shark could be as good a choice. (Most have No training in the field. But, they've watched allot of infomercials.)
But, like everything you have to chose carefully!
Bill
see you soon.
Todd
Good information. It is hard for some to ask for help, but if they do ask for it earlier it may be less painful and easier to deal with. Time constraints can be difficult.
Todd --- unfortunately, this is becoming more & more of an issue. Nice post.
Todd, There seems to be new ways to inflict unecessary damage coming on-line every day and scam artists know that people make poor decisions when under such duress! It makes me mad as well! Thank you for this post!
When someone is in trouble another will smell blood and try and take advantage. It doesn't take long for this type of activity to happen. Sellers are so stressed they can be talked into anything.
Yes, this one made me mad, knowing there was nothing I could do and the odds of the people ever being caught were probably slim. I'm guessing they didn't use their real names and if they were contracts, those didn't mean a thing because like I said they probably didn't use their real names.