When are the good, honest hard working professionals going to stand up and help put an end to these terrible crimes that fraudsters commit to steal homes from families. I have received many desperate e-mails from homeowners that have been scammed out of their homes by Real Estate Agents, Attorneys and Lenders. The scheme is these fraudsters pretend they are going to help the homeowner save their home by doing a refinance of the home to catch up on payments or to make major repairs needed on the property. This fraud scheme has surfaced in many different states with the same results to the homeowner. The result is a transfer of ownership not a refinance as they were advised, and while they did the paper shuffle at the closing the sale of the property occurs!
The transfer ownership turns out to be an immediate eviction notice to these families so the fraudsters can skim the equity from the property, not caring who they hurt!
One New Mexico homeowner wrote:
“One week later they re-keyed the house while I was gone, after the re-key they put a dumpster in the driveway and proceeded to throw everything we own from the house into the dumpster with the workers telling my daughter’s boyfriend they were trying to figure out what to auction off.”
There is a current and repeated pattern of behavior for this organized conspiracy of real estate agent, broker, investor, the real estate company, and the title company and or its closing agent. There are companies teaching and even writing books on how to use these exact same illegal tactics. Some of these students are taught to believe it is a legal way in the communities to make huge profits. Unfortunately the conspiracy is just a way to commit mortgage fraud, equity skimming, and predatory lending by bullying and using aggressive tactics to impose their illegal actions. The tactic is to embarrass and humiliate the homeowner to the point that the homeowners give up in exhaustion. They concede to the terms due to emotional need to have financial situation fixed, save their home, only to find out later that they were scammed while they were in desperate circumstances. Although this is a very upsetting and a sad situation for anyone to even think about, imagine what the two families above are dealing with as they are living this nightmare! The vast majority of people are sincere, motivated, dedicated individuals making one of life’s most costly purchases. No matter how sophisticated a homeowner may be in his or her professional life, they are most often baffled by the endless forms, facts, and figures they must face simply to apply for the loan, let alone be approved for it and go to the closing table. Thus the homeowner is unwittingly the first to allow for fraud, and the last to know about it. We know that fraud exists, we know who most likely perpetrates it and, in fact, the various ways in which they commit fraud. But how is the consumer to know, how is the potential homeowner, affected? Imagine the two family’s situation above, not only losing their home, but all of their personal possessions as well. These people would not only like to have their own homes back but have told me they feel that there is a responsibility of honest professionals, friends, neighbors and the community to all do our part to eliminate these "Fraudsters"
