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The “robo-signing” scandal that has exposed illegal practices by servicers of mortgage loans has also showed the urgent need to reform a broken system that is plagued with abuses, lacks adequate resources and has pushed countless homeowners toward foreclosure.
That’s the message that Diane Thompson, a lawyer for the National Consumer Law Center, delivered in testimony earlier this week to the Senate Committee on Banking, Housing and Urban Affairs.
The Internet Crime Complaint Center (IC3) and the Federal Bureau of Investigation have published a report about common real estate scams and rental scams they are finding and how to avoid them. Like most scams there are warning signs and red flags that can help you avoid falling victim; knowing what to look for is key.
The IC3 reminds people to be cautious when using the internet to either advertise real estate for sale or rent or to find a property to rent or buy.
For Landlords and Sellers of Property:
Look out for: Rental scams occur when the victim Continue Reading →
Dennis Norman
Appellant Says Bellefontaine Ordinance is Unconstitutional but City Inspector Still Enforcing It
Last month I did a post about a decision handed down by the Missouri Court of Appeals-Eastern District that was a significant victory for St. Louis property owners by striking down part of an ordinance that violates our property rights as well as our First Amendment Rights to free speech.
Unfortunately, it appears no one told the City of Bellefontaine Neighbors they lost the case, or if they did, some may be choosing to ignore the court’s decision. I say this because I heard Continue Reading →
Dennis Norman
What do sex offenders and owners of vacant property have in common?
UPDATE: March 8, 2010 – I found out today the bill that was actually perfected last Friday was a floor substitute…Unfortunately the changes made to the bill were minor- they changed the public data base so that you have to enter a property address in order to look up the owners personal information (including phone number and email address) and they changed the wording to no longer make real estate agents and property managers responsible for property they don’t own. So basically, just a little Continue Reading →
Dennis Norman
By: Dennis Norman
Yesterday, on a post I did earlier on rental scams, I received a comment from Dan with RentalScams.org. I visited RentalScams.org and saw their site is a wealth of information to help tenants avoid falling victim to a rental scam. I am going to post one of their helpful posts here today but invite you to visit their site and check out all the useful information they have available. The Property “Owner” Rental Scam
Here is how the scam works.
Dennis Norman
By: Dennis Norman
I came across something today that, while it is very sad there is such a demand for, it is heartwarming to see this need being addressed; helping families that have lost their homes in foreclosure move and store their belongings.
There is a new non-profit organization, FreeMooves, that is offering free moving and storage services to families affected by foreclosure throughout the U.S.
By: Dennis Norman
Recently the The Office of the Comptroller of the Currency issued a Consumer Advisory. The Advisory contains consumer tips for avoiding mortgage modification scams and foreclosure rescue scams.
The advisory states; “Scams that promise to “rescue” you from foreclosure are popping up at an alarming rate nationwide, and you need to protect yourself and your home. If you’re falling behind on your mortgage, others may know it too – including con artists and scam artists. They know that people in this situations are vulnerable and often desperate.”
The OCC suggests that before you do business with someone Continue Reading →