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, September 01, 2017
Single Mom Gets Stung In Craigslist Rent Scam, Paying $4K To Move Into Rental Home, $5K In Needed Repairs Only To Find Out Property Was A Bank Foreclosure & Purported Landlord Was A Scammer
In Chicago, Illinois, WBBM-TV Channel 2 reports:
A mother in the South suburbs moved into a dream house with her kids, only to learn she had been scammed.
As she now faces eviction, CBS 2’s Jim Williams reports this incident is a warning for other renters.
Rhonda Reynolds Ford said she first saw the comfortable Country Club Hills home advertised on Craigslist and met the man she thought was the owner at the residence.
“He had the keys — we walked right in the front door,” she recalled. “He said this was his house, that he had a couple of other people who were interested in it.”
Wasting no time, Ford jumped on it, and signed a lease in December of last year. She says she paid the first month’s rent as well as a security deposit, $4,000 altogether, in cash.
“There were leaks all throughout the house. I had to put plumbing in downstairs and repair the leaks,” Ford said, which cost her an additional $5,000.
However, a couple of months later, Ford learned the man she paid did not own the house. “I think it’s disgusting to take from people who are trying to live and struggle to make it day by day. How can you do that to somebody?”
In addition to her own children, Ford’s four young nieces also live with her.
“I’m feeling — I feel like I’ve got these kids to take care of,” Ford said, choking up. “And I don’t have anywhere for them to go. What am I going to do?”
Ford is currently on an unpaid medical leave from work, which is adding to her difficulties.
CBS 2 called the man who posed as the landlord, but there was no answer. It remains unclear how he had the keys to the house.
The attorney representing Wells Fargo Bank, which is the bank taking Ford to court, said he could not discuss the case.
Eileen Boyce of the Illinois Attorney General’s said the office has received 50 complaints since 2015 of people posing as landlords to scam renters. Boyce suggests renters check public records to make sure landlords and property management companies are legitimate.
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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