I found a great article that can help you protect yourself against fraud:
Real estate came in at No. 9, behind complaints about Internet sales and landlord/tenant issues, which tied at No. 7, and fraud. Household goods and home solicitation misrepresentations tied for the No. 10 spot.
The real-estate complaints that made the list for the first time are not related to mortgage dilemmas, which show up in credit and debt grievances. However, mortgage-related gripes were among the complaints most cited as the worst last year, the report said.
“As the economy has gotten worse the problem has gotten worse,” Carlos Morales, an investigator supervisor at the Orange County Consumer Fraud Unit in Florida, said of real-estate complaints.
“This is all new stuff for us,” said Morales, who noted that Orange County foreclosures have risen from 3,000 in 2005 to more than 24,000 today.
Most of these issues are new even to state and federal law-enforcement agencies, many of which now have agents with real-estate licenses who understand the complexities of mortgages, tenant applications and rental agreements, Morales said.
Fraudsters posing as landlords of foreclosed property and renting it to unsuspecting people is one of the latest problems. Scam artists canvass neighborhoods looking for houses in foreclosure. They rip off the signs, gain entry to the property and then list it as a rental unit on popular Internet sites.
Victims put a first-month deposit on the home and even begin paying monthly rent payments to someone they thought was the homeowner. “Then comes the banks saying, ‘What are you doing in my house?’” Morales said.
“It’s happening to people who have been evicted and already are in a bad situation,” he said. “And now that situation goes from bad to worse for them.”
Anytime you invest, make sure you follow a system that works and have people behind you that you can turn to for help
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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
I found a great article that can help you protect yourself against fraud:
Real estate came in at No. 9, behind complaints about Internet sales and landlord/tenant issues, which tied at No. 7, and fraud. Household goods and home solicitation misrepresentations tied for the No. 10 spot.
The real-estate complaints that made the list for the first time are not related to mortgage dilemmas, which show up in credit and debt grievances. However, mortgage-related gripes were among the complaints most cited as the worst last year, the report said.
“As the economy has gotten worse the problem has gotten worse,” Carlos Morales, an investigator supervisor at the Orange County Consumer Fraud Unit in Florida, said of real-estate complaints.
“This is all new stuff for us,” said Morales, who noted that Orange County foreclosures have risen from 3,000 in 2005 to more than 24,000 today.
Most of these issues are new even to state and federal law-enforcement agencies, many of which now have agents with real-estate licenses who understand the complexities of mortgages, tenant applications and rental agreements, Morales said.
Fraudsters posing as landlords of foreclosed property and renting it to unsuspecting people is one of the latest problems. Scam artists canvass neighborhoods looking for houses in foreclosure. They rip off the signs, gain entry to the property and then list it as a rental unit on popular Internet sites.
Victims put a first-month deposit on the home and even begin paying monthly rent payments to someone they thought was the homeowner. “Then comes the banks saying, ‘What are you doing in my house?’” Morales said.
“It’s happening to people who have been evicted and already are in a bad situation,” he said. “And now that situation goes from bad to worse for them.”
Here is the link to the article:
http://www.marketwatch.com/story/real-estate-on-top-10-list-of-consumer-...
Anytime you invest, make sure you follow a system that works and have people behind you that you can turn to for help
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125