May
19
Foreclosure Fraud Targets the Poor, Elderly
May 19, 2006 |
By Steve White, President, and David R. Walker
Southland Regional Association of Realtors®
Given the stunning rise of resale values over the last five years, it’s not surprising to learn that foreclosure fraud is on the rise with the poor and elderly most likely to be the targets of scam artists.
Yet, in many instances, owners need not panic because even dilapidated properties sorely in need of major repairs may well be worth tens or hundreds of thousands of dollars more than what the buyer paid.
According to the federal Department of Justice’s U.S. Trustee Program, home owners having trouble paying their mortgage should proceed with care if an individual or company:
Read the entire article here [SRAR.com has reorganized their site and this page is not on their server any longer…I’ll see if I can obtain the entire article to post because it was a good one]
