Have You Heard about the Latest Foreclosure Scam?

I'm sure that many of you have heard about some of the crazy foreclosure scams.  It's unbelievable to me that anyone can even think of these scams!  The most prevalent scam here in San Diego is people breaking into the foreclosed homes, changing the locks, advertising them for rent on Craig's List, obtaining an unsuspecting renter, collecting one month's rent and a security deposit and then disappearing.  Often times these renters find out they've been had when they try to get the utilities turned on and they are told that the utilities cannot be turned on because it's a foreclosed home.  Of course, the schemers are gone by then.

Here's the craziest scam I just read about that happened here in San Diego and in Riverside--and it could be happening in your area.  A guy by the name of Maurice Simmons would find foreclosed homes and claim ownership to it by filing an official looking grant deed with the County Recorder's office.  He would then post the document in the window of the home, change the locks on the home, and then move people in.  Maurice states that he is able to do so under the cloak of a religious order known as the "Sovereign Solomon Brothers Archbishop Corporation Sole," and insists that makes him immune to prosecution.  You can only imagine the cost to the banks getting these people out (one bank spent approximateily $125K to get the squatters out!), and the hassle and expense for the buyers.  Maurice's logic is:  "Bankers are defrauding people, and all I'm doing with this program is helping people get into homes who deserve to have a home but who got screwed," Maurice said in interviews before his arrest. "I'm tired of people getting thrown out of their homes and no one seems to care."

Maurice Simmons was recently arrested--thank goodness!  But this goes to show you, we must keep an eye on the bank owned properties both for the buyer and seller.  While showing properties, if you see something that just doesn't look right, PLEASE call the agent.  As for the agents for the banks, it's important that you make regular visits to the foreclosed homes to make sure no one has moved in.  It's so important that we look out for the best interest of the buyers, sellers and the public at large.

If only these schemers would spend their energy and time doing good rather than stealing from others.  I don't know how they can live with themselves.  So sad.