Foreclosure Investment Scam Uncovered

Alleged Foreclosure Investment scammers indicted

I just blogged about this topic a few hours a ago and then read this article in the paper.

In essence, a women and 3 others found people in foreclosure through public foreclosure listing and arranged loans for them.

"Defendants could get 20-year sentence for charges of
identity theft and mail fraud.
By Samantha Gonzaga, Staff writer

LOS ANGELES - A Downey woman and two others on Thursday
were indicted by a federal grand jury for their alleged
part in a $12 million foreclosure scam that victimized
more than 100 Southern California homeowners..."

Except that they allegedely used illegal methods to do so.

I always say: There are many homeowners with financial troubles and in foreclosure and we can help them get out of foreclosure.

Preoreclosure houses are plentiful and ethical investors will be able to profit from this as well as helping the homeowner in foreclosure in the process.

Investing in Foreclosure must be a win win win for all parties and if not, don't do it!

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