4 Short Sale Fraud Scams To Avoid
When it comes to short sale fraud, there are some scams that you need to be aware of. Short sales are transactions that involve the sale of a home for less than the owner owes on their mortgage, making them attractive opportunities for homeowners looking to sell quickly. Unfortunately, due to its complexity and potential for abuse, short sales can make it easier for scammers to commit fraudulent activities. Here are four common scams associated with short sales and tips on how you can avoid them:
Scam #1: The "Bait & Switch" – In this scam, a homeowner will agree to accept an offer from a buyer but then use the money they receive as a down payment for another property instead of paying off the original mortgage lender.
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