Wednesday, 16 July 2014

Jeff Adams Scam-Types of Real Estate Fraud


Real estate scams, fraud all constitute a form of theft which criminals use to steal your residence or real property. Adhering to the principle that a person’s home is their fortress, this is possibly the most shocking form of victimization. 

There are so many Real estate Scams and occurred in many forms. Jeff Adams is one of the famous real estate investor and Jeff Adams scam prevention techniques allows you to find the real estate scams and providing a right way to prevent them.

Types of Real Estate Fraud:

Foreclosure bailout, home equity fraud, home renovation scams, rental fraud, and deceptive timeshare scams, are just a few types of real estate scam which may be performed. Now we can see the forms of real estate scam.

Foreclosure aid:

Victims of this form of real estate fraud are generally homeowners who have negative justice, also known as being upside-down and owe more money on their home’s mortgage than the home is worth. They are caught in dire straits due to the need to sell their house, and must do so at a loss or let their advance company foreclose on their home.

Home justice and Home Renovation Fraud:

According to the Council of Better Business Bureaus, home-remodeling contractors ranked slightly behind car salespersons and auto technicalities in generating the most consumer complaints. Be very careful when using your home or your home equity as security for a home improvement loan. Fast talking salespersons will offer to refinance your home at a lower interest rate to provide cash to the homeowner, the money can be used to pay for home improvements or to pay off bills.

Rental scam:

Often, con artists will rent out a house they do not own. They will set a vacant or abandoned home, enter the house, change the locks, and then promote the property as available for rent. The unsuspecting victim rents the property from the con artist, who collects a security deposit and rent from the victim, and then disappears.

Deceiving Timeshares:

Timeshares may offer to sell membership vacation accommodations. Con artists may make oral promises that are omitted from the written agreement. They may also fail to mention fees and obligations that are in the written contract, which are never mentioned orally.

Victims of scam come from a variety of cultural, religious, socioeconomic, educational backgrounds, age, and gender. Some swindlers deliberately seek out families that may have limited means or financial difficulties, figuring such persons may be mainly receptive to a proposal that offers fast and large profits. Your first step as a victim should be to report the incident to your local police department.

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