Unraveling Missouri Flipping Scam Forcing Tenants Onto The Streets

Among the after effects of a massive house flipping scam in Sikeston, Missouri that has left over 300 homes in foreclosure are the problems facing unwitting tenants who are being "foreclosure evicted" out of their rented homes on short notice, despite being current on their rent. Among the reported problems faced by some of the city's displaced residents:

• Unrefunded security deposits, local homeless shelter unable to meet increased demand for services, ruined furniture due to uncontrollable circumstances in one case, receiving a letter giving one tenant a week to vacate -- two days after she gave birth, children facing confusion as to their new living circumstances - living out of a car one day and bouncing in and out of friends' and family members’ homes on other days as space is available, shortage of rental housing in the area given the recent spike in demand for rentals from others in the same predicament, increased rental rates due to the increased demand.

For more, see Mortgage fraud scheme: Families displaced by housing fraud ("Lost in the shuffle").

For an earlier post on the unraveling Sikeston, Missouri flipping scam, see KFVS-TV "Housejacking" Investigation Reveals Flipping Scam; 300+ Homes In Foreclosure.

For other posts involving rent skimming landlords who pocket rent and allow homes to go into foreclosure, see Tenants Unwittingly Renting Homes In Foreclosure I , II , III , and IV. equity skimming unwittingly gamma