Short Sale Scams … What to look for

Realty Professionals  805-474-7040  If you are a Homeowner and considering selling your home throught he Short Sale process you may be susceptible to one of several “Predatory Rescue Scams” which may cost you money with absolutely no results.  Some of the results may include the loss of the home entirely, financial loss, or possibly involve you in the fraudulent scheme which could lead to other legal and financial consequences.

 

 

 

 

 

 

 

 

 

 

Here are a few Red flags of Scams, Schemes and Fraudulent acts against homeowners trying to do the right thing and sell their home prior to being foreclosed on.   The number on thing to look for is the charge of any “Upfront Costs” from you, any type of guarantee to stop the foreclosure, here is one that a few people I have been contacted by fell for (and eventually lost their home) a promise that you can keep the house, buy the house back in any form (even corporation) or stay in the house following transfer of title (most lenders specifically have you sign a legal document against this, here is a Huge Red flag: instructions not to contact the lender, to transfer the title to them or allow them to lease the property or do a lease option and another is these individuals asks the homeowner execute a power of attorney.  In any case, if you are unsure, seek the advice of professionals in their appropriate fields to review, advise and guide you so that you are not taken advantage of.

 

 

 

 

 

 

 

 

 

If you think you have been presented with a Scam, Scheme or other proposal that seems fraudulent report these claims immediately to the Department of Financial Institutions at: www.dfi.wa.gov or 1-877-RINGDFI (746-4334) and to local Police Departments.

 

 

 

If you want to know more from Professionals that do this on a Daily Basis, call a Realty Professional today  855-955-SOLD (7653)