Straw Buyer, Equity Skimming Scam Claims Dozens Of Victims

(Orig. post 3-18-07; revised 6-12-07)
Dozens of victims have reportedly been sucked into the back end of a possible straw buyer scam, according to a report on KMBC-TV Channel 9 website, at TheKansasCityChannel.com. Reportedly, homes recently purchased by straw buyers were subsequently rented with an option to buy to the equity skimming scam victims. The victims unwittingly moved in to the homes, made some rent payments, and then found out that the homes were in foreclosure.

In one case, the straw buyer lives in Houston, and has several Kansas City homes in her name.

Dozens of homes have already been sold at foreclosure sales and later this month, more victims will lose their homes as well, according to the report. The FBI is investigating the possible link between the affected homes.

To read more, see Mortgage Scam Claims Dozens Of Victims (Northland Families Evicted From Homes)

For other stories on tenants unknowingly renting homes in foreclosure, go here, or here, or here. alpha
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