Foreclosure flipping scam

This video is from the show Open House on CNN. This video briefly explains how a flipping scam works and what to look out for so you are not another victim! More info at:
Video Rating: 5 / 5

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13 Responses to Foreclosure flipping scam

  1. Ravenda Dallah says:

    This happened to me.

  2. jms980 says:

    They did this on a Sopranos episode!

  3. Everett Grover says:

    I truly won’t have the house whether or not this wasn’t to suit your needs. Comprehend the inspiring video that you just shared.

  4. Ericka Watson says:

    Sad, this happened to my ailing Grandmother, they forged her name off her deed and then the crooks performed the exact scam above… costing us a forntune to fight and very little protection from the law : (

  5. darthspeaks says:

    Stupidity isn’t profitable.

  6. mRsToRrEs520 says:

    I completely agree with you, I am new to REI and I wanted to know what people are fearing. I have never scammed nobody and people who do need help are afraid of getting it because of this scammers.

  7. nesNYC says:

    The housing collapse probably put an end to this scam. But these assholes were one of the source of speculation AND defaults that created the problem.

  8. jonie1515 says:

    I know a guy who is doing this he tried to get us to give him my home, wanted it for just about nothing.

  9. SirBanon says:

    LOL i luv it! who’s with me?!?! :3

  10. tiamiata says:

    So now not only do we have bailout plans for Freddie and Fannie, and AIG, and all the banks that are failing right now (circa Nov/2008), but 20% of that bailout money (an estimate) is going to criminals (the $400K loan that the bank asks for a bailout on).  Wow. Ok, you say, just stop the bailout. Well, then there is bankruptcy. And taxpayers still pay. I wonder if Republicans “less govt” means less bailout, or less regulation. Surely the latter has already been in place for 30 years or so.

  11. JONATHAN KISER says:

    Tinker Bebe,

    What is horrible is that you think that only white people do this scam. In fact in Dallas there are a large amount of “people of color” getting caught doing this! Loosing the “race police” comments can’t divert the point that many black people think that they can do no wrong! You will find repugnancy in all races because it isn’t a racial thing it is a thing about being a person of good social and moral fiber. You will find that in all races too.

  12. TinkerBebe says:

    OMG!! That’s horrible! They’ll get away with all this that’s for sure. Mostly because they’re white people. Remember in America white people do no wrong!

  13. Mike Jones says:

    Why rob a bank and get a few thousand dollars when you can do this and not go to jail?

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