warning - foreclosure scam! - Posted by linda
Posted by linda on April 07, 2002 at 06:34:09:
I went to meet a seller at his house yesterday. He said it was set for sherrif’s sale May 31. This was a 5 year old house FMV of 145,000, He owed 95,000 on the 1st, 13,000 on the second and was about 5 payments behind on both. (red flag here - too soon for the sherrif sale)
My advisor recommended that I ONLY bring $10 to buy the equity & I needed to get notarized permission to negotiate and check his credit.
When he realized that I was only giving him $10 and that an attorney was going to be involved, he quickly ended our conversation, said he wanted a friend to check over the paperwork and I haven’t heard from him since. (This is a man who called me 6 times to make sure I was coming to look at his house)
Well it seems that a new (or old) scam is working in my area. These guys are calling ads, meeting investors, & pocketing the earnest money. I can’t even find foreclosure notices on this house and he conveniently forgot to bring them for me!
Just something to think about:(