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The bogus escrow scam is a straightforward confidence trick in which a scammer operates a bogus escrow service. Escrow services are intended to ensure security by acting as a middleman in transactions where the two parties do not trust each other. Rather than sending money or goods directly to the other party (which is insecure, as one or the ...
Equity stripping or equity skimming is a variation on lease-buyback and is one of the most common types of foreclosure rescue schemes. [4] In it, the perpetrator assumes ownership of the house while allowing the former owner to continue living there, provided that s/he pay rent to the perpetrator, who is the new owner.
Mortgage elimination is a type of mortgage fraud in the United States.In this scam, the promoter first convinces a mortgage holder that the debt that has been contracted is invalid or legally unenforceable, usually due to a combination of alleged technicalities in the note, deed of trust, or other loan documentation signed; the promoters often link their rationale for debt elimination to ...
The escrow fee can be a necessary expense to consider when buying a home. It is a small price to pay for the assurance and security it provides during a significant financial transaction like ...
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3. Gift Card Scam. Another hallmark of many scams targeting used car buyers is a request for gift cards as payment. When the buyer calls the fake toll-free number, they’re told to purchase gift ...
Cramming is a form of fraud in which small charges are added to a bill by a third party without the subscriber's consent, approval, authorization or disclosure. These may be disguised as a tax, some other common fee or a bogus service, and may be several dollars or even just a few cents.
The embarrassing cheque is a confidence trick which may also be an urban legend.. The scam was supposedly performed by a company selling pornography or other sex aids and trading under a highly explicit name.