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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: sccrealestateuncensored.com/2007/shortsale-foreclosure-pt1/ micasamidinero.com/2007/shortsale-foreclosure-pt1/

12 Responses to “Foreclosure flipping scam”

  • mRsToRrEs520:

    @shonasplace 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.

  • nesNYC:

    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.

  • REstatebuyersClub1:

    wow people need to know who they are trusting with their foreclosure people using fake names it a big red flag.

  • jonie1515:

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

  • shonasplace:

    This is soooooo sad…..they give investors such a terrible reputation. People are already hesitant dealing with investors already.

  • SirBanon:

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

  • tiamiata:

    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.

  • Anothercoilgun:

    The horrible belongs to you. No one said “only”. But “only” will get away with.

    Now shut the hell up.

  • Anothercoilgun:

    And? Get back to the scamming. Stay on topic. Use no excuse of others as your reason for your own divergence.

  • combatives:

    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.

  • TinkerBebe:

    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!

  • joejoemorgan:

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

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