User91714_1_t Dorene Shirley Silicon Valley Real Estate
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I heard on the news this morning some additional foreclosure scams.  Squatters seems to have become a big problem in our vacant home foreclosures.  Once they find out the home is in foreclosure and is abandoned, the squatters move in.

A second issue is scammers.  When these crooks find out the home in foreclosure and abandoned they rent the properties out to unsuspecting renters.  The scammers pocket the money.  The renters loose their deposits.

I'm sure it will get worse before it gets better....I know we aren't the only area with creative crooks!

What's going on in your area?

 

 
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7 Comments on Foreclosure Scams - Squatters

YES, allot of people can't afford a home, move in ... I not heard about the leasing market for foreclosures that is a new one ...thanks for the heads up on that we do allot of leasing. !

 

http://www.lynn911.com Dallas homes for sale, Dallas home foreclosures for sale.

05/22/2008 09:23 AM by Lynn911.com ~ Top Dallas Real Estate Agent (Dallas Real Estate ~ Lynn911.com )


Thanks for the information.  I don't think it is happening in Utah, but not sure.  I will start checking around.

05/22/2008 09:28 AM by Gerald Richards (Team One - Coldwell Banker Residential Brokerage)


Thanks Gerald.  I hope we can limit these issues.  Scams can leave a nasty impact on the neighborhoods.  Many times the squatters leave their stuff behind in the front and side yard.  Don't want to get into the rodent issues...

05/22/2008 09:32 AM by The Mortgage & Property Connection


I don't think anything like that is happening here.  At least, I haven't heard about it.  Some people sure are bold! 

05/22/2008 03:13 PM by Debi Ernst GRI, e-PRO, Broker/Sales Associate (St. Charles County, Missouri - Prudential Alliance Realtors)


Bold is a good word.  Thanks for the comment Debi

05/22/2008 04:32 PM by The Mortgage & Property Connection


There are many of these type of stories going on in Palmdale, There was even a Mother who moved into a gated community here and lived with her 6 children for 3 months.

We have a new city ordinance that states if you have a foreclosure you have to register that  listing with the city of Palmdale, it costs 100.00 per listing, but it will allow the police to arrest anyone that looks suspicious who may be trying to squat or vandalize the house, I know of many agents who have had property from the listing stolen, most commonis the air conditioning. Yes it is very common here not so much West Palmdale although that mother moved into a West Palmdale address but more the East side of Antelope Valley. At least the city is trying to do something about it.

06/04/2008 10:35 AM by Karen Dhillon


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Real Estate Brokerage: The Mortgage & Property Connection
Dorene Shirley Silicon Valley Real Estate
Campbell, CA
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The Mortgage & Property Connection

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