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Purchasing a home is like investing in a piece of your legacy. Unfortunately, this makes real estate a prime target for con artists. According to the FBI’s Internet Crime Report 2021, the losses ...
Real estate scams are nothing new. But as rents, home prices, and inflation remain high in today’s volatile housing market, some industry experts warn scams could be on the rise. Nationwide, in ...
1. Overpaying for a Property. This happens when buyers pay more than the actual market value of the property. It can occur due to a lack of research on comparable property prices in the area ...
American Homeowner Preservation, Inc. (AHP) was established in October 2007 as a non-profit organization focused on helping homeowners at risk of foreclosure stay in their homes. In May 2008, an office was opened in Cincinnati. In August 2008, AHP received their 501 (c) (3) designation as a nonprofit from the Internal Revenue Service.
Foreclosure rescue scheme. A foreclosure rescue scheme is a scam that targets those whose house is facing potential foreclosure. The scheme preys on desperate homeowners whose mortgages are in default by offering to prevent the foreclosure. [1] [2] There are various ways in which foreclosure rescue schemes work, causing different types of harm ...
Get-rich-quick schemes. Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure hunts, and charms and ...
In 2022, the FBI received 11,727 real estate-related complaints with losses of over $396 million, an 86% increase versus 2020 levels.
1860s. Jacob Young, William Abrams, and Nancy Clem ran what author Wendy Gamber argues, in her book The Notorious Mrs. Clem: Murder and Money in the Gilded Age, was the first-ever Ponzi scheme. [1] [2] In Munich, Germany, Adele Spitzeder founded the "Spitzedersche Privatbank" in 1869, promising an interest rate of 10 percent per month.