In this current environment of “foreclosure opportunities”, con artists aren’t just trying to scam pre-foreclosure homeowners – even prospective investors are being targeted. Those who are interested in “cashing in” on current market conditions need to be wary of the information they are purchasing!
California resident Mark Allen Davis was recently charged with identity theft, mail and wire fraud charges. His scheme was simple – he placed hundreds of advertisements in newspapers promising to mail customers updated government foreclosure property lists. He charged $80 for the data, asked for their bank account information to “verify their identity”, and then drafted their accounts for more. He will serve nearly 7 years in prison.
It’s not only homeowners who need to be cautious in this market. Con artists are on the rise, and their schemes become more complex by the day. Even the speculators need to be careful!
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