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  Geebo 8:00 am on August 12, 2021 Permalink | Reply
  Tags: bitcoin ( 32 ), cryptocurrency ( 51 ), real estate, rental scam ( 87 ), Scams ( 1,368 )   

  Family taken in Bitcoin rental scam 

  

  By Greg Collier

  A family from Eastern Pennsylvania is in the process of relocating to South Carolina due to one of the heads of the household being hired for a new job. The family found the ideal home for rent that they were looking for. It was in the perfect location and was well within their price range. The first problem was that the family found the home on craigslist, which the report we found this story on called “a favored hangout for scammers.” Unfortunately, that was only the beginning of the family’s problems.

  After the family responded to the ad, they thought everything appeared normal. The people they were communicating with appeared to be from a rental company. The family was even sent a rental agreement to sign. However, all communication was done by text and email, which should have been the first sign that this rental company may not be on the up and up. The next sign was that the so-called rental agency asked for a $3500 deposit to be paid in Bitcoin. The scammers had to instruct the family on how to make the Bitcoin payment. After the payment was made, all communication from the supposed seller stopped.

  If you’re looking to rent a home, especially one that’s multiple states away, you really need to research the listing for legitimacy. A web search for the property’s address can turn up so much information, like if the home is actually for sale instead of being for rent. That search may also show that the rent isn’t as cheap as the initial listing said it was, as scammers usually list the home’s rent as cheaper than market value to entice victims. You should also ask for a live virtual tour of the home before making any deposits. If the landlord doesn’t communicate by phone, that’s also a good indicator the listing might be a fake. Lastly, never pay a deposit in any kind of cryptocurrency like Bitcoin. While Bitcoin can be traced, it’s anonymous enough that victims rarely, if ever, get their money back.

   

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  Geebo 8:00 am on August 11, 2021 Permalink | Reply
  Tags: advance fee scam ( 45 ), credit repair ( 2 ), Eviction ( 3 ), eviction moratorium ( 2 ), loan scam ( 6 ), real estate, Scams ( 1,368 )   

  In danger of being evicted makes a prime target for scammers 

  

  By Greg Collier

  The Federal Government has extended the eviction moratorium to October 3rd. Not only does this give tenants extra time to try to improve their situation, but it also gives scammers more opportunities to find more victims. Scammers are always looking for victims who are in a desperate situation, and there’s no situation more desperate than the possibility of losing your home. To scammers, it doesn’t matter if you only have a little money to your name. They’ll try to take it anyway. And now they’re trying to take it from those trying to keep a roof over their heads.

  The Better Business Bureau has issued a warning to those looking for any kind of rental assistance. Too many scammers are out there now, offering services that are too good to be true. The scams run from phony credit repair services to ‘guaranteed’ loan services. While there are legitimate credit repair services, consumers need to keep an eye out for repair services that make promises they can’t keep, like removing a bankruptcy from your credit report. And no loan is ever guaranteed. Those who are offering such loans will probably ask for an upfront or advance fee and not provide any service.

  There are also government grant scams to look out for. While there are government grants that provide financial assistance to some tenants, the government will never reach out to you. And again, the grant scammers will ask for an advance payment disguised as processing fees. Real grants require no such fee.

  However, the BBB has been warning about one particular scam lately. In it, the scammers call you to tell you that your loan is approved. They’re hoping that you’ve applied for at least one loan to help improve your situation. The scammers will then say that before they can release the loan money, you need to increase your credit score. All you need to do is wait for $1000 to show up in your bank account then once you send the $1000 back, your credit score will be improved enough to get the loan. The money deposited into your account is fraudulent and if you send it to the scammers before your bank catches the fraudulent transaction, you’re not only responsible for the $1000 but any overdraft fees as well.

   
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  Geebo 8:11 am on August 3, 2021 Permalink | Reply
  Tags: Facebook Marketplace ( 62 ), real estate, rental scam ( 87 ), Scams ( 1,368 ), Zelle ( 66 )   

  More tips on how to avoid a rental scam 

  

  By Greg Collier

  Since the dawn of online classifieds, the rental scam is probably only 2nd in frequency to the fake check scam. For two decades, rental scammers have been stealing the money from families looking to rent a new home. More often than not, the victims of these scams end up losing the last of their money, so not only can they not move, but they can’t pay the rent at their current residence. While we have much empathy for the victims of rental scams, it is one of the more preventable online scams.

  For example, a woman in Cincinnati recently fell victim to such a scam. She found a house for rent on Facebook Marketplace that was a two bedroom home for just $700 a month. The scammer sent the victim pictures of the home’s interior, but said they couldn’t show the home because they were out of state. The victim still filled out an application and sent a deposit and two months rent to the scammer over the payment app Zelle. In total, the victim lost over $2000.

  Currently, there are simple steps to prevent you from falling victim to this scam. The first thing you should do is a do a web search of the property’s complete address, zip code and all. This first listings in the search should bring up real estate websites Zillow and Realtor.com. Zillow can give you an idea of a more realistic rent, as scammers will almost always list the property well below market value. Realtor.com will let you know if the property is being rented by a real estate agency and their contact info. If that information doesn’t match what you’re being given, you may be dealing with a scammer. If you do a reverse image search from the listing you found, it might take you to one of these websites, meaning the pictures were stolen.

  There are also the red flags of the ‘landlord’ not being able to show the property and the payment through apps like Zelle and Cash App.

  Lastly, if you want to be absolutely sure that you’re dealing with the legitimate owner of the property, do a check with the county’s tax assessor’s website or office.

  It’s better to do a little research to avoid being scammed than acting rashly and losing your money.

   
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  Geebo 8:00 am on July 20, 2021 Permalink | Reply
  Tags: back taxes, florida ( 30 ), property tax, real estate, Scams ( 1,368 )   

  This tax scam tries to claim ownership of your home 

  

  By Greg Collier

  A tax scam has recently surfaced in Pasco County, Florida. And as we like to say, if a scam can happen in one place, it can happen near you. At least one elderly resident was terrified by this scam, but thankfully she was told it was a scam before lost anything to the scam. A scammer called the woman and told her that they had paid the back taxes on her home, and they now owned it. She did the smart thing by calling the county tax collector’s office, and they informed her that this was all part of a scam. But the question remains, what is the end goal of this scam?

  With most scams today, the end goal is usually to get money out of the victim, but under what guise? One scam that uses a threat like this is one where scammers offer a service where they claim to assist in helping pay your back property taxes, especially if there is a lien on your home. Of course, this service will cost the victim money, but once payment is made, there is no tax assistance given and the scammers have made off with the victim’s payment. It could be that this particular scammer in Florida hasn’t quite grasped how the scam is supposed to work.

  That’s not to say that a home can’t switch ownership due to delinquent taxes. However, the process isn’t as simple as walking into the tax collector’s office and paying off someone’s back taxes. In Florida, the process can take years and requires an auction to take place. It’s probably safe to assume that other states have an equally lengthy process before a home can change hands due to delinquent taxes. So if you receive a call from someone either telling you that they now on your home or can help you pay your back taxes, it’s more than likely a scam.

   
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  Geebo 8:00 am on July 13, 2021 Permalink | Reply
  Tags: closing cost scam ( 2 ), mortgage scam ( 4 ), real estate, Scams ( 1,368 ), wire fraud ( 21 )   

  Victim loses closing costs in real estate scam 

  

  By Greg Collier

  When dealing with real estate, rental scams are not the only scam you have to worry about. Lately, we’ve seen an ever-increasing rise in a scam where the victims are set to close on a new home. The scammers are somehow sliding into the home buyer’s email and posing as the loan agency. The scammers then ask for the closing payment to be wired to them. By the time the victim realizes that they’ve been scammed, they’ve lost thousands of dollars with little to no recourse. We can’t even imagine the sense of dread that the victims of this scam feel when they find out they’ve not only lost their closing payment, but also finding out that the deal on their new home might fall through because of it.

  This is exactly what happened to one woman in Alabama when she was getting ready to close on her home. The night before she was getting ready to close on a new home for her and her children, she received an email that appeared to come from her closing agency. The email asked her to wire $6,000 for the closing costs. On closing day, she received a call from her bank asking her if anyone else had contacted her about the closing cost. She was then told that whoever contacted her wasn’t from the bank. As in most cases, once the wire transfer was sent, the money was unrecoverable.

  If you’re working with a loan agency, bank or credit union to obtain a mortgage for a new home, be suspicious of any communication asking you to send money. If you receive an email like the one in the story above, call the bank to verify that they sent the email in the first place. It would be even better to visit the bank in person to verify any requests. No one wants to go through the process of buying a new home only to have the deal fall through at the very last minute.

   
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  Geebo 8:00 am on July 8, 2021 Permalink | Reply
  Tags: craigslist ( 129 ), Facebook Marketplace ( 62 ), housing ( 5 ), housing scam ( 3 ), real estate, rental scam ( 87 ), Scams ( 1,368 )   

  Scams increase as scramble for housing begins 

  

  By Greg Collier

  Currently, there is a mad dash for many people to find housing. Between people looking for summer rentals, college students returning to actual classes, and just people looking for a new place to live, housing is at a premium. As is always the case, scammers are already using the market to find victims.

  In a nutshell, scammers will copy real estate listings from legitimate realtors and post them on sites like Craigslist and Facebook Marketplace. The rent will be listed considerably below market value. The victim will usually be asked to make payment by money transfer or payment app. More often than not, the scammer will make an excuse as to why they can’t show you the property personally. Victims have even moved into homes before finding out that they’ve been ripped off.

  There are several steps you can take to help you avoid these scams. First, do a web search of the address of the property. If there are several listings of the same property with different contacts and wildly varying rents, then something is definitely amiss. If a listing says that the property is for sale and not for rent, the odds are pretty good that the listing with the home for sale is the actual listing. You can also carry out a reverse image search on the photos used in the listing. Sometimes the same photos will be used on multiple fraudulent listings for properties that aren’t even in the same city. However, the most secure step you can take is to check with the county’s assessor’s office or website. They’ll have all the legal information about the property.

  You can even take steps to prevent fraud if you’re the person renting the property out. If you’re selling the home, consider putting a ‘not for rent’ sign along with the for sale sign. Scammers will often come up with a story as to why the property is for rent even though there is a for sale sign. If you find your property being listed by a scammer, contact the website to have it removed. You can also set up a Google Alert with the properties address to be notified whenever someone tries to list the property fraudulently.

   
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  Geebo 8:00 am on May 14, 2021 Permalink | Reply
  Tags: Cash App ( 42 ), craigslist ( 129 ), Facebook Marketplace ( 62 ), florida ( 30 ), real estate, rental scam ( 87 ), Zelle ( 66 )   

  Rental scammer takes advantage of pandemic victims 

  

  By Greg Collier

  As we’ve said in the past, the rental scam is probably the most common online scam. It has several variations, but they all result in the same thing, the victim pays for a home rental. More often than not, these scammers are from overseas, however, since the start of the pandemic in March 2020, we’ve seen more and more domestic scammers getting involved with rental scams. One of those scammers was recently arrested after taking advantage of desperate families for over six months.

  The 38-year-old Florida woman was said to have placed ads for rental properties on both Craigslist and Facebook Marketplace. As with most rental scams, she allegedly copied ads from legitimate real estate listings and posted them online with her contact information. She is said to have collected deposits from over 20 victims who were desperate to find housing during the pandemic. Her victims ranged in age from 20 to 71. After she received the payments through a payment app she would then ignore and block her victims. Currently, she’s believed to have swindled over $20,000 from her victims.

  Rental scammers are always looking for victims who are in vulnerable situations such as needing immediate housing. This way, the scammers know they can catch their victims off-guard and get them to make mental mistakes that would benefit the scammer. These include sending money through payment apps like Zelle and Cash App. Victims who pay through these apps can be easily blocked by scammers after the victim loses their money.

  Even if you find yourself in a desperate housing situation, it always pays to research the property in question. If the property is actually for rent, the county’s tax assessor office or website will be able to tell you who actually owns the property. If the name doesn’t match the person or organization claiming to rent the property, it’s more than likely a scam.

   
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  Geebo 8:00 am on May 11, 2021 Permalink | Reply
  Tags: down payment, real estate, Scams ( 1,368 ), wire fraud ( 21 )   

  Don’t wire the down payment for your house 

  

  By Greg Collier

  When it comes to real estate, one of the most common scams is the rental scam. If you’re a longtime reader you’re probably very familiar with this scam. In the rental scam, the scammer poses as a landlord to a property that they don’t actually own. They’ll advertise the property as being for rent on unmoderated marketplaces like Craigslist. The scammers will then collect money from victims with the payments being disguised as security deposits or first month’s rent. Family’s have moved into these properties only to find out that the property wasn’t even for rent. But what if you’re looking to buy a house? Surely, there are no such scams that could affect home buyers. While not as common as the rental scam, there is at least one scam new home buyers need to look out for.

  A couple who were in the process of buying a new home in Kansas City recently found out about such a scam. In the deluge of emails they were getting from various parties involved in the sale of the home, they received an email that instructed them that their $40,000 down payment would need to be sent by wire transfer. The email wasn’t sent by anyone involved in the process but from a scammer who disguised the emails to look like it was coming from the bank and the title company. Later they received a legitimate email from the title company saying they need to bring a cashier’s check, but by that time the couple had already wired the money to the scammer.

  It’s unknown how the scammers knew the couple was in the process of buying a home. This could have been a phishing attack that just got extremely lucky, or the scammers could have gleaned some information about the couple from social media. In any case, if you’re in the process of buying a new home and someone asks you to wire any money, verify it first with the parties involved and do so by phone call or in person. Wire transfers have long been a preferred method of payment by scammers.

   
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  Geebo 8:00 am on April 5, 2021 Permalink | Reply
  Tags: craigslist ( 129 ), lockbox ( 5 ), real estate, rental scam ( 87 ), Rentals ( 14 ), rently ( 4 ), Scams ( 1,368 )   

  A lockbox doesn’t mean it’s not a scam 

  

  By Greg Collier

  Many real estate services and platforms use what’s known as a lockbox on their rental properties. It is essentially an electronic box that allows access to the property. A prospective renter can then enter a code that gives them access to the keys so they can tour the property. A lockbox like this on a property can give the impression that whoever has access to the lockbox code must be a legitimate landlord. As we’re about to show you, that isn’t always true.

  A man from Louisville, Kentucky recently inquired about a home for rent that he found on Craigslist. That’s already not a good sign already as Craigslist has long been ground zero for internet scammers of many forms. Anyway, the supposed landlord told the Louisville man that the man can take a self-guided tour of the home using the Rently platform and provided a man with the code number for the lockbox.

  The man toured the home and told the Craigslist landlord he wanted to rent the home. The landlord said there would be a $2500 deposit and sent a lease to the man. The phony landlord almost got away with it too except he kept pressuring the man to pay the $2500. It was at this point that the man realized this might be a scam. The man then checked the property records of the home and discovered that the home wasn’t being rented by someone with the landlord’s name. Instead, it was being rented by a property management company.

  We’re not sure how the lockbox codes are falling into the hands of scammers unless the codes are not being changed regularly. If that’s the case, we can imagine a number of scenarios where the code number could be obtained.

  If you’re ever looking to rent a home that you’ve found online, we always recommend going to the county’s tax assessor office or website to verify who exactly owns the property. While it may take a little extra time and effort to find this information, it could save you thousands of dollars in the long run.

   
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  Geebo 9:00 am on January 19, 2021 Permalink | Reply
  Tags: craigslist ( 129 ), real estate, rental scam ( 87 ), Scams ( 1,368 ), Tennessee ( 5 )   

  Dream home becomes nightmare for one family 

  

  Recently, we mentioned how rent prices in the San Francisco Bay Area were dropping due to the pandemic and how rental scammers were using this to their advantage. The opposite can be said as well in markets where rent prices are climbing. A family in Tennessee unfortunately found this out the hard way.

  It started out like many rental scams do. They found a great listing for a property on Craigslist for an amount they could afford. The red flags that this listing was a fake appeared almost immediately. However, the family ignored them in their eagerness to find what they called a ‘forever home’.

  First, the person supposedly renting the home would only communicate with the family through text messaging. This makes it harder for victims to identify their scammers.

  Next, the scammers came up with a story about why the rent was so affordable. They told the family that they had just moved out of town and didn’t want the home to be empty in the winter.

  The family was then told they couldn’t tour the home or meet with the renters because of COVID-19. As you can imagine, social distancing has been a boon for scammers because they now have a reasonable explanation to avoid meeting their victims.

  There was even a for sale sign outside the property, but the scammers are said to have explained that away too.

  The last red flag came in the form of Cash App. The family paid the scammers $2400 through the mobile payment app. The family was then asked for an additional $1200, or they would lose the listing.

  The family contacted who they thought they were dealing with on Facebook who were actually previous victims of these particular scammers.

  It’s almost like this scammer wrote the book on rental scams as they had an answer for just about every red flag. Still, these red flags should not be ignored even if the deal seems to be sent from above.

  If a supposed landlord says they can’t meet you or show the home, walk away from the deal. That’s been a rental scammer staple even before the pandemic happened. Back then, they would give stories like they were doing missionary work overseas or were deployed in the military.

  With any big life choice like moving into a new home we always recommend doing as much research on the property as possible before making any financial commitment. Do a reverse image search to make sure the pictures on the listing aren’t stolen from a realtor; and always check with the county’s tax assessor’s office or website to find out who the true property owner or realtor is.

  Don’t let scammers pressure you into giving them your money with threats of losing the listing. Having all the information at hand will protect you against their tactics.