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Avoid falling prey to these common real estate ripoffs and scams that could see you losing money — or even the property in question. Buying a house soon? Avoid falling prey to these common real ...
Purchasing a home is like investing in a piece of your legacy. Unfortunately, this makes real estate a prime target for con artists. According to the FBI’s Internet Crime Report 2021, the losses ...
On Aug. 17, rules surrounding real estate commissions are set to change thanks to a legal settlement between the National Assn. of Realtors and home sellers. Proponents hope the new rules will ...
Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure hunts, and charms and talismans.
In December 2017, the Woodbridge Group of Companies (a/k/a Woodbridge Securities) was charged as an alleged US$1.2 billion Ponzi scheme run by real estate developer Robert H. Shapiro (not to be confused with attorney Robert L. Shapiro) by The U.S. Securities and Exchange Commission (SEC).
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Real estate scams are nothing new. But as rents, home prices, and inflation remain high in today’s volatile housing market, some industry experts warn scams could be on the rise.
Subprime loans targeted at vulnerable and unsophisticated homeowners often lead to foreclosure, and those victims more often fall to equity stripping scams. [2] Additionally, some do consider equity stripping, in essence, a form of predatory lending since the scam works essentially like a high-cost and risky refinancing.