Published February 26th, 2009 by editor
Beware of real estate scams
With the financial crisis in full swing, many people are desperate to improve their financial situation. This phenomenon is sadly, being abused by several people who, despite the hardships others are suffering from capitalize on this to cheat money off of already financially struggling individuals.
The most common way is for victims to receive a message through email that they are qualified for loans, even though they have a very poor credit standing. These people desperate, more often than not, see this as a golden opportunity for them. They fill out forms online and give out sensitive information, as well as unquestioningly pay a “processing fee” to the alleged lending company. Once all is done, they never hear from the company again. The rule of thumb is that if it’s too good to be true, it probably is.