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The fake ad for the Oklahoma City home had been corrected by Thursday, but fakes with the same basic spiel for homes in Boston and San Antonio, Texas, were posted on Zillow and another home sale site.
Homeowners across the U.S. are being targeted in a sophisticated scam in which callers pose as mortgage lenders to defraud people out of hundreds of thousands of dollars, the Federal ...
Known as seller impersonation fraud, the scam involves bad actors who impersonate real owners of homes, and steal victims' cash by requesting up-front payment on far-fetched, fake deals.
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 [4] by co-executive chairmen Rich Barton [5] and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current ...
Mortgage fraud by borrowers from US Department of the Treasury [7]. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above.
Equity stripping or equity skimming is a variation on lease-buyback and is one of the most common types of foreclosure rescue schemes. [4] In it, the perpetrator assumes ownership of the house while allowing the former owner to continue living there, provided that s/he pay rent to the perpetrator, who is the new owner.
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