scams: Scammers Post Fake REO Rentals on Craigslist
- 10/10/12 02:43 AM
Freddie Mac’s fraud unit is teaming up with real estate professionals who list HomeSteps homes to sniff out bogus rental ads of REO properties — a growing problem, according to Freddie Mac. “We’re hearing more reports about fraudsters trying to cash in on the housing crisis’s remaining foreclosed homes by advertising them as rentals on the Internet,” writes Freddie Mac in a recent blog post warning about the Craigslist REO rental scams. The scam works like this: After a house is sold at foreclosure, a scammer then posts an ad online trying to rent out the home before the new owner … (2 comments)
scams: Scam Alert - 4 Ways to ID Borrower-Assistance Scammers
- 01/18/12 04:38 AM
Scammers have targeted delinquent borrowers during the past few years, hoping to take advantage of their desperation and financial inexperience. Their approach typically involves posing as a representative of a nonprofit or government agency who can help with a loan modification or some other form of assistance. Sheri Stuart, education manager at Springboard Nonprofit Consumer Counseling, says she frequently encounters consumers at courses offered by her organization who have been victimized by these scams. Stuart says she recently met a couple from Southern California at one of these events who’d paid $3,000 to a fraudulent company in an attempt to keep … (2 comments)
scams: Scam Alert: Federal Agencies Crack Down on HAMP Fraud
- 12/09/11 02:43 AM
Some scam artists are preying on home owners looking to refinance using the government’s Home Affordable Modification Program. As such, federal agencies are banding together forming a task force aimed at cracking down on con artists who are falsely claiming they can save home owners’ mortgages through HAMP, HousingWire reports. The new task force recently issued a warning to home owners looking to refinance their mortgage: Only your mortgage servicer can grant you a loan modification through HAMP so don’t be duped by scam artists saying they can help with HAMP. Any third-party promising to guarantee a loan modification or pre-approve … (0 comments)
scams: The Top 5 Contractor Scams and How to Avoid Them
- 10/05/11 03:51 AM
Crooks go where the money is. So with Americans spending as much as $22 billion a year on construction projects, it’s no surprise that home improvement has become a favorite target for fraud artists. Some of these shady characters use amazingly well-polished contractor scams that are tricky to spot until it’s too late. The vast majority of contractors are honest, hardworking professionals. Protecting yourself against the few bad apples requires checking references, having a solid contract, and being alert to the warning signs of these top five contractor scams. Scam 1: I’ll need the money up front This is the most … (0 comments)
scams: Would You Recognize a Foreclosure Scam?
- 11/01/10 08:28 AM
With a national unemployment rate hovering around 9% and increased confusion in the marketplace surrounding foreclosure processing and bank foreclosure freezes, loan modification scam artists continue to adapt their messaging and high-pressure sales tactics to take advantage of home owners who are struggling or unable to make their mortgage payments each month. "Loan modification scam artists are slick and relentless. They are using every trick in the book to prey upon home owners during a very stressful time," said Eileen Fitzgerald, chief operating officer of NeighborWorks® America. "Consumers need to learn the warning signs of a loan modification scam, and report … (1 comments)
scams: Scam Alert: Avoid Home Equity Loan and Refinancing Scams
- 09/20/10 03:37 AM
Refinancing a mortgage to a lower interest rate can make sense for some homeowners. So too can taking out a home equity loan against the value you've built up, perhaps to finance a kitchen remodel or pay Junior's college tuition. What doesn't make sense is losing your home because you fall for home equity loan and refinancing scams such as loan flipping and equity stripping. Although scam artists can be very convincing, homeowners who know what to look out for are less likely to become victims.
Loan flipping Loan flipping is a scam targeted at homeowners looking to get money … (2 comments)
scams: Scam Alert: ISP warns Hoosiers of scam
- 09/17/10 08:43 AM
The Indiana State Police are investigating a cash based scam that involves sending money via a commercial wire service. The scam appears to be targeting only elderly residents with one couple losing more than $3,000. How does it work? An unknown person will telephone an elderly resident and tell them that a family member has been arrested and needs bond money to be released from jail. The suspects will identify the victim's family member, usually a son or daughter or grandchild, and then identify themselves as a ranking representative of a certain police agency. Then the victim is told a lengthy … (1 comments)
scams: Avoid Home Equity Loan and Refinancing Scams
- 06/03/10 08:18 AM
Home equity loan and refinancing scams can cost you more than money-these scams can cost you your house. Refinancing a mortgage to a lower interest rate can make sense for some homeowners. So too can taking out a home equity loan against the value you've built up, perhaps to finance a kitchen remodel or pay Junior's college tuition. What doesn't make sense is losing your home because you fall for home equity loan and refinancing scams such as loan flipping and equity stripping. Although scam artists can be very convincing, homeowners who know what to look out for are less likely … (0 comments)
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The Trentini Team of F.C. Tucker EMGE REALTORS® provides exceptional service to each of their clients as they help them to achieve their real estate goals. With their knowledge, experience and background, both Kathy and Rolando bring one-of-a-kind perspectives to the table during all of their real estate transactions. Their excellent communication skills combined with their passion for real estate allows The Trentini Team to follow through every time with the highest level of service possible. Rolando and Kathy are your premier Evansville and Newburgh, Indiana real estate source. They can help you buy your dream home or sell your current home for the best price possible. To learn more about what The Trentini Team can do you for you, contact us today!
Freddie Mac’s fraud unit is teaming up with real estate professionals who list HomeSteps homes to sniff out bogus rental ads of REO properties — a growing problem, according to Freddie Mac.
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