Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Friday, June 08, 2012
Rent Scams Promoted On Craigslist Creating Headaches For Home Sellers, Real Estate Agents
In Northwest Indiana, the The Times of Northwest Indiana reports:
A nationwide Craigslist rental scam has targeted some Northwest Indiana homeowners. A Lowell homeowner, whose house is listed for sale, reported to police June 1 that a neighbor saw the property fraudulently advertised for rent on Craigslist. The fraud perpetrator is enticing potential renters to send or wire deposit money.
The property owner’s real estate co-agent, Trinity McCormick, of Re/Max Integrity Group, said an unauthorized person copied the photos and information from the Greater Northwest Indiana Realtors Association multiple listing service website and then advertised it as a rental.
McCormick said this is not the first time she has encountered rental fraud. She said a three-bedroom Cedar Lake home, listed as renting for $1,175 per month was copied and advertised for $700 per month. McCormick said Craigslist immediately removed the false ads when notified.
GNIAR has been sending notices to its members warning of the scam. One Valparaiso home, priced for sale at $1.1 million, was fraudulently listed on Craigslist for rent at $800 per month including utilities. The seller was surprised by a “potential renter” who showed up at the home unannounced.
During the past two weeks, a client of Realtor Mitch Harris, of Coldwell Banker in Valparaiso, has "potential renters" showing up at her Portage Township home even talking to her children.
Harris has been inundated with calls from people seeing the fake ad listing the rent at $800 less per month than the actual amount. They call after driving by and seeing his name on the sign. Harris said the perpetrators claim to be the homeowners who are out of town and say they are firing their Realtor for doing a bad job. They ask to have deposit money wired and promise to mail the keys.
Harris had a similar problem with a Lakes of the Four Seasons last year. He said people were actually showing up and looking in the windows.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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