scam - Articles

New Warning on Mortgage Mods: Demand for Up-Front Fees Is a Sure Sign of a Scam

The housing market has been slowly recovering for most of the year, but the fact remains that millions of Americans are still underwater when it comes to what they owe on their mortgage versus the value of their home. As such, many may be looking for some relief, and scammers are now preying on that need. In recent weeks,... Continue Reading »

Homeless Man Allegedly Rents Out Vacant Home to Tenants

Is being a thief better than being a squatter? A homeless man allegedly stole $1,375 in cash by renting out a vacant home in Ormond Beach, Fla., so that he could afford a place to live, reported. Eric Sisson, 27, (pictured at left) listed the foreclosed home on Craigslist, claiming that he recently... Continue Reading »

Real Estate Agent Arrested for $20 Million Ponzi Scheme

A real estate agent from Petaluma, Calif., has been arrested in connection with an alleged Ponzi scheme that took over $20 million from investors. Aldo Baccala, 71, purportedly collected money from more than 75 investors by promising returns of at least 12 percent. Using his company, Baccala Realty, Inc., Baccala is... Continue Reading »

Former NYPD Officer Accused in $4.7 Million Real Estate Scam

A former police sergeant and a New York attorney are being charged with stealing $4.7 million from investors using an elaborate real estate scam. James Monahan, who worked for the New York Police Department from 1994 to 2005, and Edward Adams of Obermayer & Adams in Manhattan, claimed to be building a condominium... Continue Reading »

Lease-to-Own Lure: Alleged Real Estate Scam Preyed on Absentee Owners

Riding up to homes for sale on her bicycle, Pamela Winegardner allegedly would chat with listing agents about her new business ventures, her career as a six-figure human resources consultant, her dying grandmother, her boyfriend's injured daughter, and her need to move quickly out of her current rental because the owners... Continue Reading »

Online Rental Scams to Avoid

Sure, we've already discussed how to avoid a Craiglist rental scam. But there are even less obvious ones to be concerned about. You know the ones -- they don't immediately send chills, but seem like a very tempting, rare opportunities. These are the "lure listings." They will bite you if you aren't careful! Here are five... Continue Reading »

Beware the Nigerian Landlord Scam

Perpetuating his country's unfortunate association with internet scams, a Nigerian man has turned to a new source for ill-gotten money: home renters. No tall tales of fake Nigerian royalty or bogus inheritances this time; the latest scam simply solicits deposit and rent money from unsuspecting renters. The catch? The... Continue Reading »

L.A. Couple Tortures Loan-Mod Agents

Last Wednesday, after losing their home to foreclosure, two desperate homeowners got medieval on the loan officers they felt were responsible - now they're facing up to life in prison for it. The Los Angeles County district attorney reports that the couple, Daniel Weston, 51, and Mary Ann Parmelee, 52, and three others... Continue Reading »

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