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Foreclosure Scams on the Rise!
Foreclosure Scams on the Rise! (Please comment about the scams you have encountered to help others avoid these bad companies and same pitfalls)
This weekend alone I encountered 2 local Real Estate Companies that scammed homeowners into telling them they would buy their homes.  One of them  presented a short sale offer so ridiculously low that the bank didn't take the offer, then the Real Estate Company told the homeowner they will look for other investors and get her the number needed, but NEVER listed the house on the MLS, no SIGN, no ads even on their own website..NOTHING!  This poor lady is getting foreclosed on this week!  I called the owner of the Real Estate Company twice and emailed them...no response.  Don't worry I'm notifying the State!
The other Real Estate Company writes a short sale offer, doesn't disclose they are the investor writing the offer, makes up a fictious Real Estate Company as the buyers agent, because Short Slaes do not usually allow dual agency and then they tell the buyer the bank wants her to sign a promissary note made out to them for 10 years to repay $25,000 of the $50,000 she is short.  OMG!!!  Repay the money to THEM!!  This is the ... more

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