The dark side of Orlando Foreclosures. While some people see foreclosures and REO properties as a gold mine, others see the damage it causes to many families.

This blog isnt about the families that were foreclosed on but the people in the middle, hurt by the deceitful people still out to make a quick buck. The innocent people who think that they are simple getting a good deal because people are struggling and will take less for rent.

This weekend I had to handle the dark side of Foreclosures. A young couple with 3 kids and one on the way are occupying a house that is now owned by the bank. They rented the home from the previous home owners less then 2 weeks ago, happy with the home and the monthly fee. They paid first and last months rent upfront and even some past due monies owed to the water company. There were some red flags in this whole scenario but the main thing is. The previous owner was no longer the owner and has no right to the house or to rent the home.

Now these tenants are approached by me the rep for the bank who now owns the home,  that they have just been scammed by the previous owner and must vacate in less then 30 days. If they do so peacefully we can do something for them, if they dont they can be flat out evicted and quickly. Beware of scammers out there. Simply checking the tax records wont help, the banks name doesnt always appear that quickly. You could do a record search and see the chain of issues which might tip you off that something isnt right.

It's always important to have a professional on your side from the Realtor who helps you buy and sell real estate to the Property Management company who ensures a smooth rental process.