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#307644 - 09/26/09 06:26 AM Re: People Scammed Into Renting a REO in Escrow [Re: someoneguy]
Grampa Offline
Major Contributor

Registered: 06/30/09
Posts: 2255
Loc: Margaritaville
Congratulations. dancingguy

The portfolio manager is with the AM company and covers a specific customer (like Chase et. al.) and is usually the direct interface with that customer.

Did you get reimbursed for the Uhaul?
_________________________
"Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind."
Dr. Seuss

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#307739 - 09/27/09 12:24 PM Re: People Scammed Into Renting a REO in Escrow [Re: Grampa]
coloradoreo Offline
Member

Registered: 02/22/08
Posts: 35
Loc: Colorado
Check your local Craigslist. Two of my listings received renters from there. The "showing" rental agent even had the lockbox code and help an open house. Three families were scammed out on nearly $3,000 in wire transfers. Some local dog of an RE agent had to have been in one this. Local telephone numbers were traced to three different counties before being lost. What an elaborate scam.

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#307760 - 09/27/09 04:56 PM Re: People Scammed Into Renting a REO in Escrow [Re: coloradoreo]
CALIF DREAMING Offline
Veteran Member

Registered: 08/01/06
Posts: 1123
Loc: Downey, California
Earlier this year there was a television news article about two L.A. area real estate agents who were arrested for renting out vacant lender owned properties to unsuspecting tenants. The article stated that they obtained LB information from the MLS, removed for sale and other window signs and ran their scam by accepting cash only from renters.

We certainly need to utilize the neighborhood watch program to help us avoid such situations.
_________________________
"People rarely succeed unless they have fun in what they are doing"....Dale Carnegie

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#307812 - 09/28/09 02:36 PM Re: People Scammed Into Renting a REO in Escrow [Re: someoneguy]
Traveler Offline
Major Contributor

Registered: 11/14/00
Posts: 2268
Loc: The Coast
Interesting story. I wonder were the "tenants" told where to send rent money? If not, this should have raised a big red flag as would the cash only deposit.

I had a similar incident where someone posted a sign on my REO for rent. After I asked city police to call the phone number and investigate the situation, their response was basically
"Its your property, you manage it."

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#307816 - 09/28/09 03:30 PM Re: People Scammed Into Renting a REO in Escrow [Re: Traveler]
someoneguy Offline
Member

Registered: 12/22/07
Posts: 113
Loc: USA
They ripped my sign out and its no where to be found around the property. They also took all the notices on the window from FAS, Sherrif, etc? haha unlike what Landbaron Mr. Jump to conclusions guy stated.

But the "tenants" were about 21 years of age so kinda of naive and gave the guys cash. Huge RED Flag. We just need to check our REO's out at least once a week. Even then, anyone can pull this scam off in less than that time but it still helps.

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