Todd this post is a very good "heads up" for folks. Homeowners under the stress of foreclosure are just ripe for the pickin' for the fraudsters. They really need to be careful and seek legal advice before signing anything. These scammers really piss me off!

Howdy Todd

I take my hat off to you for giving folks a heads up to what some are doing out there. And for picking just the right picture to put with it. Keep up to good work.

I have never liked pepole that look for ways to make money off of folks that are having hard times.

Have a good one

Todd,

First off, great picture - it really depicts who these animals are (OK, the pun was intended, eve if it's not funny).

THE PUBLIC REALLY DOES HAVE TO KEEP AN EYE OPEN AND PROTECT THEMSELVES.

As a REALTOR, bound by a Code of Ethics, I believe in my heart that we are the best chance a homeowner has of going through a legitimate transaction and maintaining their dignity.

Now Have a Blessed Day,

John Occhi, Hemet REALTOR®
Mission Grove Realty

Todd- Here there are these scammers who after you sign over your house to them and pay them rent, they in turn, never make the mortgage payment and it defaults anyways! We have these guys approach our desperate sellers almost daily! Katerina

Bryant - Those fraudsters are everywhere and think what they are doing is legal because they paid $2500 to go to this seminar they saw on TV a midnight.

Dale - I couldn't find pictures of a jackass holding a sign or I would have used that - lol

John - I'm thinking I should have used a sheep in wolves clothing now. But, I still like my idea of a jackass!

Katerina - This is the reason that I require any of my sellers to use a escrow company to make sure payments are paid to the mortgage and taxes first!

ooooh it is so true Todd. I've seen this before and people will ask me if I think its a good idea for them. I don't usually recommend it to them. I try to explain to them that it is wishful thinking if they think they can get their credit clean that quick. Especially if they are facing foreclosure. If that is the case they are typically more than 120 days behind on their mortgage and will most likely need 2 years to get their credit recovered. Some lenders only look 12 months back so at minimum I'd tell them to take an 18 month contract. I actually have a client right now that is in a similar situation. They are trying to refinance a lease option and they are working on their credit but I don't think they are going to get it done soon enough and will have lost a good amount of money.

Rick - I'm sorry your client didn't call you before they got into that situation. You could have saved them then, but now they are just going to lose their home and thousands of dollars.