Real estate scams are more and more popular, even though we can’t see them yet. Compared to robbing a bank, stealing 50 0,000-worth property via a false deed or an identity theft is trivial – and remarkably safe for the thieves. Their imagination is remarkable and oftentimes we can’t do much more than minimizing the [...]
A crook with a computer has stolen an online listing from an Ames real estate company and is posting it on Craigslist as a rental, asking people to wire hundreds of dollars overseas, according to local and state sources. Hunziker & Associates agent Tabitha Zesch said the property — a single family home priced at [...]
Don’t be duped by mortgage fraud. Here are a few common scams and the red flags you should look for in a transaction. Mortgage fraud is pervasive: An estimated $4 billion to $6 billion in annual losses result from mortgage fraud, according to FBI reports. “An entire community can be damaged by mortgage fraud,” says [...]
Here’s one for the books on how to get ripped off. This guy was even on A&E Flip This House! Moral of this story, be careful who you deal with. Sam Liccima was promising a return on investment of 16% and the actual return on investment turned out to be – zero percent. Part One [...]
Have you ever seen these ads that start out – make millions in real estate – you don’t need money, let me show you how to get started in real estate and earn a ton of money in the first month. Excuse me, if you can make millions in real estate using this “motivational speaker’s” [...]
I’m still receiving letters at the rate of one to two letters a week from overseas scammers wanting to give me a portion of millions of dollars or invest in real estate. Bad English in writing the letters, promises of giving you a cut of the millions they are supposedly wanting to feral out of [...]
It seems that people are always trying to make money by illegal means. If they would put as much effort into doing something legally as the schemes they come up with, they would in all probability make more money. At least they wouldn’t end up in jail. A case in point is the scheme by [...]
Former Dallas Cowboys linebacker Eugene “The Hitting Machine” Lockhart was arrested by FBI agents at his Carrollton home Thursday morning after being indicted on mortgage fraud charges, the U.S. Attorney’s office said. Lockhart, 48, and eight others were indicted by a federal grand jury on various charges, including conspiracy, bank fraud and wire fraud. The [...]
I don’t know how many 419 scam letters I’ve received, promising me untold wealth if I would just communicate with them and send them all of my bank account numbers. I would than receive 30 percent of $48,000,000. Not bad, but why do they always pick $48,000,000? I’ve guess they’ve taken a marketing course and [...]
The White House has asked mortgage executives to come up with the manpower to stop precarious loans from becoming foreclosures, but a New York Times story says finance experts say a lack of bodies isn’t the problem. It’s greed. Mortgage companies collect fees for appraisals, insurance, legal services and other administrative busywork when homes go [...]
