I came across an article this morning on Rismedia, that addresses forclosure fraud and how the scam artists are taking advantage with home owners in trouble. As realtors' and lenders, I believe the more information we can give our clients and non-clients the greater chance we have of building trust in a time where many are out to just make a quick buck at someones' expense. Let's protect and build relationships.
"Freddie Mac decided to produce the anti-fraud video for YouTube after a 2007 company-sponsored study that discovered that 25% of delinquent borrowers go to the Internet first for mortgage information, only slightly less than those who call their mortgage lender (28%) or bank (32%). Roper Public Affairs and Media, a division of GFK NOP conducted the survey of 2,400 borrowers."
The two-minute YouTube video uses professional actors to demonstrate how con artists can:
- Get copies of foreclosure notices at City Hall or a county courthouse;
- Persuade distressed borrowers to give up the deeds in exchange for
suspicious promises to solve their financial problems;
- Use the deeds to secure new loans for themselves; and,
- Let the new loans go into foreclosure, which means the homeowners looking for help can still end up losing their house.
We may have clients or people in our data base that would value from this information. Many of you may already have this information but for those of you who don't, I thought it important to pass it on.
You can go to www.youtube.com/AvoidFraud to view the video and decide it's importance.
Keller Williams Realty
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