LATEST REAL ESTATE SCAM/FRAUD: The Real Estate con artists keep moving from one to another seamlessly. When the real estate “bubble” burst, they zeroed in on Foreclosure Fraud; then they moved on to Loan Modification. Today, those two pipelines have slowed. As one Trustee Sale expert said to me today, “The business has fallen like a lead balloon.” So their new one is Time Share Fraud. Companies are calling Time Share Fraud. Companies are calling Time Share owners and telling them they have legitimate buyers for their existing time shares. They negotiate prices send a contract looking all official and everything is fine. All they need is a deposit to process all the paperwork. Please “wire” the money. Translation: This makes it a cash transaction and your money is gone. Have any of you or your friends received these calls? Do you know anyone who wired money and been sorry they did? If anyone of you own time shares, I would follow the advice of the Old Sargent on Hill Street Blues that ended each briefing with the statement “Now, you be careful out there.” Is this happening in California? Yes. The scammers are so busy that the State Department of Real Estate has issued a strong warning to beware. For more information go to dre.ca.gov/files/pdf/ca/2013/ConsumerAlert_LatestTimeshareFraud_Feb2013.pdf
Posted on: Thu, 27 Jun 2013 22:46:11 +0000