Think all the housing-market scams went away after the market went bust in 2008? Wrong. The scammers have merely adjusted to the times.
Our favorite scam (in terms of intricate ingenuity) is the “credit enhancement” trick, in which “credit enhancement” companies effectively set up bogus bank accounts for people, making their balances look bigger and impressing potential lenders in the process.
One investigation found that scammers put on their loan application that they were trying to buy 935 Pennsylvania Ave. in Washington D.C. — the headquarters of the FBI. No one said the scammers weren’t bold. They almost sound like Russian mobsters.
Anyway, read the article. They’re all over the foreclosure industry, needless to say.
File under: The more things change, the more they stay the same