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Q Tip From Fran The TitleMan...Fraud Alert...!!!

By
Title Insurance with Patriot Land Transfer, Inc.

I'd just like to pass on some important information for consumers and Real Estate Professionals...  

We have been hearing quite a lot lately about illegal MONEY MAKING SCHEMES...  

It's not unusual in a slumping economy to see the crooks among us come out of the woodwork...similar to the way cockroaches come out in the dark, scavenge for some tidbit, and then run back to their usual hiding places...  

Well, the same thing is happening in the HUMAN cockroach world...these bugs with a heart, albeit an uncaring one, are trying to take advantage of the plight of many of us who have fallen into bad times...either through threat of foreclosure, arrearages on bills, cancellation of credit, falling fico scores, loss of employment, rising food prices, etc...  

I recently heard, for example, that a typical consumer just like you and me had a considerable sum of money taken from his own bank account(s) after signing/authorizing  documentation that promised to help consolidate his debt and lower his monthly payments...  

Of course, in days gone buy, schemes like this were handled as MAIL FRAUD, and usually investigated and prosecuted by the FBI or U.S. Mail authorities...BUT...  

With the onset of E-MAIL and the speed of the internet, these human cockroaches operate in a state of the art DREAM WORLD...  

I'm no fit advisor on how to avoid these type schemes, but today you need to be extra cautious, use a lot of common sense, i.e. if something sounds too good to be true, it probably is and there is no such thing as a free lunch...somewhere, somehow, someone is paying for that 'FREE LUNCH'...  

Keep your Social Security number, and your bank account numbers, and other personal financial information close to the vest, and don't release them unless you're 100% sure it's safe...!!!  

So keep your guard up lest it is you that ends up paying for a lot of FREE LUNCHES...!!!

Just another Quick Tip from your local TitleMan...!!!

 

Comments(49)

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Chris Olsen
Olsen Ziegler Realty - Cleveland, OH
Broker Owner Cleveland Ohio Real Estate

Hi Fran -- I heard a segment about this lately.  There is always a segment of the population that is up to no good, unfortunately.  If there were very stiff penalties for this with swift justice, I bet there would be less of it going on.

May 05, 2009 03:55 PM
Roland Woodworth
Benchmark Realty - Clarksville, TN
Benchmark Realty

Fran: A great reminder for everyone out here. To many different type scams seem to be popping up all over the place.

May 05, 2009 04:50 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

It's unfortunate, and as more people become desperate for help or to "help" others, I'm afraid we'll see more of it.

May 05, 2009 04:55 PM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Edith: Yes, get a plan, but beware of human cockroaches in the meantime...!

Kat: Cockroaches are becoming bolder and bolder...!

Vickie: There are many crooks out there waiting to pounce on an opportunity...!

Hannah: They are creepy animals...!!!

John: Attorneys or those posing as attorneys are very culpable...!!!

Thanks,   Fran

May 05, 2009 05:08 PM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Chris: Prosecutions would certainly help reduce these instances...!

Roland: They do proliferate...!

Christine: Yes, I don't think it's going away soon...!

Thanks,   Fran

May 05, 2009 05:11 PM
Fernando Herboso - Associate Broker MD, & VA
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Great term used to describe these people preying on the public. . upfront fees before services rendered is the key 

May 05, 2009 10:31 PM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Fernando,

That's a good point...!!! Thanks,   Fran

May 05, 2009 10:49 PM
Mark Watterson
Salt Lake City, UT
Utah Real Estate

"HUMAN cockroach world"  I have never heard it describe this way.  You are right and it's sad. 

NEVER paid upfront for anything.  I find this get rid of many of them.  But not all.....

May 06, 2009 12:00 AM
Palm Coast Homes
100 Plus Realty LLC - Palm Coast, FL
Palm Coast/Flagler County Real Estate, The Ross/Co

What I have a hard time wrapping my brain around is why these scams work...maybe we need to be looking at the larger picture...~sigh~

May 06, 2009 12:58 AM
Ed Rybczynski
Integrity Real Estate - Havre de Grace, MD
Your Source for Local Real Estate

"if something sounds too good to be true, it probably is"

Some of the best advice that has ever been given!

May 06, 2009 01:49 AM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Bettina: It is a shame when you can't trust many people...!!!

Mark: Upfront money is a flag to be aware of...!!!

Kristi: I think ambition and gullibility are two keys...!!!

Thanks,   Fran

May 06, 2009 01:58 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Good advice Fran.  I had a friend the other day show me a scam coming on her cell phone to call her bank (Chase) and update (text) her account numbers and pin's so they could have them on file.  Really?  Call happened twice so far, so you have to be aware at all times.  They'll get you when you least expect it and usually when your in too much of a hurry to really pay attention.

May 06, 2009 02:20 AM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Ed Ryb,

Your picture looks like your sunning on a beach in the Caribbean...!!! Be aware of scammers...!!! LOL, Thanks,   Fran

May 06, 2009 02:31 AM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Lyn,

Good point! These cockroaches are slick and inventive...!!! Thanks,   Fran

May 06, 2009 02:33 AM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

I agree these people are getting more creative at theft and I'm not sure what you can do. The worst part about it is I've seen scams where they have offices, phones, computers and nothing absolutely nothing looks out of the ordinarty until your money is gone.

 

May 06, 2009 03:12 AM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

TC,

Remember Bernie Madoff...!!! Thanks,   Fran

May 06, 2009 03:33 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

It always amazes me when I hear about people falling for these scams.  But it happens and the scammers are getting more sophisticated every day.

May 06, 2009 03:48 AM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Gene,

Our Cookery and our Crookery are both becoming state of the art...!!! Thanks,   Fran

May 06, 2009 04:28 AM
"The Lovely Wife" The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

Title Man...

I was reading this trying to figure out what the Qtip had to do with the post. I get it now. Quickly :)

TLW...ROAR!

May 07, 2009 10:30 AM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

THE,

Exactly...Quick Tip...!!! Thanks,   Fran

P.S. I'm runnin out of ideas...!!!

May 07, 2009 01:46 PM