bubbleinfo.com

Don’t miss OCRenter’s post on the latest real estate scam:

http://bubbletracking.blogspot.com/2008/11/ocrenter-is-now-king-solomon-iii.html

Scammers are filing ownership deeds on foreclosed properties and renting them out.  Back in the day there were also scammers taking out mortgages against properties that were free-and-clear. 

All it takes is a certified notary - because the county recorder’s office only checks to make sure there is a valid notary stamp on the documents.

Watch out!

Speaking of scammers, remember the Lopez brothers?  The agents who made over a million dollars in commissions taking advantage of hispanic buyers?  Kelly B. told me that they are in a halfway house, after serving their three months in jail.

Emilio was able to hang onto his San Marcos house on La Plaza too; according to the tax rolls he’s not in default, eventhough his loans total $1,200,000+.

Here is their story:

http://www.bubbleinfo.com/2008/04/lopez-sentenced-on-mortgage-fraud/

Posted on Saturday, November 15th, 2008 at 7:26 AM in Scams | 1 Comment » |  Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.