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“There are no cheaters unless one forbids to be cheated”
Spearheaded by a victim’s drive to chase down call center scamming; many vowed to hunt them down for good. A lot of victims are Americans who just want to have an easy access of life. In a sad note, due to insistent need of survival, a homeless man drifts himself in limbo to take an opportunity; to take a shot of destiny; to take the “short-cut” through deliberately by passing of a supposed legal procedure. This for them to have a head start towards the finish line, and eventually, win the challenge of survival.
Due to the undeniable surge of the Wall Street economic meltdown, global recession occurred that has not only infected the United States, but the world as well. Projection shows that within five (5) years time, unless the economic drought is resolved, a lot of real properties are going to be foreclosed. Many are going to be ripped off their homes not due to bad credit standing but financial scarcity which is naturally fortuitous in it its very sense. Save for the few and the many who still implore the interest of justice and fair play, this is where scammers come in to take advantage out of a person’s helpless expense.
A wide array of clamour echoed underneath the victim’s feat of need --- the need to have a decent home to live to shelter his bewildered family. Most of them take the practical off road route to acquire a cheap foreclosed property than building a new one. However, despite of the guaranteed “affordability” of second hand homes, everyone cannot afford it. Otherwise stated, only a chosen handful can afford it. The need of real estate brokers surrounded by mountainous legal procedures is more than enough to kill the stamina of an average homeless American. For this reason, a device was made to cut the cost of expenses and that is by call center agency. With just a dial, all the anxiety will be gone. With a promise that every step will be served in a gold silver platter, a homeless king will surely shed off every penny left in his safe just to have a kingdom without mirroring possible infirmities hidden under it. With this predicament, the legal procedures concerning house financing are now reduced to a mere online extravaganza thus putting the essence of foreclosure as a legal matter per se in an obvious dilapidated state.
Prevention is better than cure. Thus, how will you determine whether or not a particular transaction is a scam? Here is my brief take of pointers for enlightenment, guidance and awareness. These are the eight (8) beatitudes.
1. Do not be opportunistic. Do not trust immediately. Examine and analyze. Not all that glitters is gold – only opportunistic people fall prey to this elementary modus. Ignorance nor good faith is no excuse. Do not take the short cut. People who are commonly made victims to this are those who want the easy way out. Thus, better take the long thorny road of legitimacy than to divert into a butter coated path way of uncertainty.
2. Know the parties – bare this in mind that in as far as foreclosure is concerned, generally there are two (2) parties.
(a) Mortgagee – the party who acquires a contract of loan (usually with the bank) and makes his Torrens Title (Title of the property) as a security of the loan. Failure of the mortgagee to satisfy the obligation will give the mortgagor the right to foreclose the mortgage; and the
(b) Mortgagor – the party under whom the loan was made which in return offers money to the mortgagee in relation to the Deed of Mortgage executed between the parties.
[Real Estate Broker (optional middleman) –Is a duly licensed person contacted by a mortgagor at his option to look for interested buyers over a particular foreclosed property if the mortgagor decides to sell it.]
3. As a rule, parties to a foreclosure (of loan or mortgage) are generally exclusive; it is binding with them as it is the law of the parties. It does not bind third persons – information of foreclosed properties lies exclusively in the hands of the mortgagor (common example is the bank). A property acquired by banks due to foreclosure is usually disposed of via sale by public auction. Unless the mortgagor (other than banks) chooses the option to have the aid of a broker, said information will be passed to him as his agent. However, for security reasons, an interested buyer must verify whether the broker is licensed to practice brokerage. If, despite proper identification, an interested buyer is still doubtful to the legitimacy of the transaction or the broker, refer the query to an appropriate professional brokerage board which holds the roll of professional brokers.
4. Not all online house financing are hoaxes - online business is legitimate if they (a particular company) have proper linkage to the above mentioned parties (mortgagee, mortgagor, broker or a lawyer who will draft the terms and conditions of the contract). They must be accredited, registered or licensed brokerage firm authorized and supervised by an appropriate government agency.
5. Internet IPs should stand still – Internet IPs are intended for identification. Online house financing usually post information on Craig’s List (craigslist.com) or Back page (backpage.com). Internet postings are alright. However, the thing is, housing financial scammers habitually reroute their internet IPs in order for them to be untraceable. At least they reroute IPs every after three (3) postings per state. It is a matter of security that one should know or at least keep track of the internet IPs. ONCE THEY MOVE unusually, it is a scam.
6. Scammers are great manipulators – they usually use aliases and not their real names. They usually have a website indicating their campaign with an American postal address. Most of these are tricks. In these cases, please get hold of the website information and verify the postal address whether it’s existing. The reason is that, scammers do the dirty work by habitually rerouting their internet IPs in several U.S. states to make it appear that they are doing business in America although, in truth and in fact, they are not from the United States but somewhere else.
7. Not all postings are true – It is impossible to have a house for rent or rent to own at a cost of $ 450 with amenities like 2 bedrooms, 2 toilets and baths. This kind of postings is common. However, postings such as these are only for pure marketing strategy to lure an interested person to call. Once you call, you are given a new set of information different from what is posted. Here is the common script: (Call Simulation)
CUSTOMER: I have read an advertisement that a house for rent or rent to own is available in California. Is it still available?
AGENT: “I’m sorry Mr. Customer; the house that you have read on our advertisement has long been sold. However, we have several properties available for you to choose from. From what state are you Mr. Customer? What is your zip code?
CUSTOMER: I am from Illinois (e.g. customer answers Illinois although the customer is interested on the posting of a house for rent/rent to own available in California)
AGENT: we have 45 properties in your area (Illinois) to choose from (45 is just an imaginary number. It is just a product of imagination without any basis at all) with the same price as what you have seen on the advertisement. (If the customer says that he is interested in California, the same style is applied)
CUSTOMER: Okay....I’m interested...
If the customer is interested, he will be required to give e-mail address and credit card information. Once all of these are through, money will be slashed from the customer’s credit card in exchange of listings of foreclosed properties. Hence, all that a customer will have are the listings of foreclosed properties for a price of $ 49. There is no walk through nor legal assistance for the necessary execution of a Deed of Transfer or Deed of Absolute Sale between the customer and the mortgagor. Simply put, the customer is paying $ 49 for the listing.
NOTE: the $ 49 is just the tip of the iceberg. Once credit card information is released, it could be more than $ 49. Be vigilant.
Significance of a Deed of Sale/ Deed of Transfer:
A Deed of Sale is a written legal instrument where the vendor (formerly the mortgagor) irrevocably conveys the property to the vendee (the customer) for a consideration. The said instrument has to be notarized by a lawyer and made it registered in an appropriate registry of property. Once the consideration is satisfied, ownership is transferred. A Deed of Transfer on the other hand is also a written instrument where the transferor (formerly the mortgagor) transfers the property to the transferee (the customer) after satisfaction of the terms and condition stipulated. The said instrument has to be notarized by a lawyer and made it registered in an appropriate registry of property. Thus, the lawyer plays a vital role in these issues. Failure to comply with this will make the ownership of a certain property subject to collateral or direct attacks. It would render the transaction void or voidable.
8. FRIENDLY ADVICE: Insist that payment should be made through Western Union; reason – people engaged in these kind of business usually require payment through credit and debit cards. In that way, they won’t be traced once they have successfully slashed something anomalous out of it. If the customer insists that payment should be made through Western Union, they will be forced to disclose their true location. In that way, they can be traced.
There are no cheaters unless one forbids to be cheated. The world is indeed growing smaller each day as it is now engulfed under the dependence of the cyber world. Deception through lewd designs and machinations is the common haven for those who wish to devour the human heart by abusing trust and confidence. Intellect stands no chance amid the blinding speed of eloquent speech and scientific sales talk. This is music to those who easily fall under the spell of trusting too soon.
Implore God’s guidance and wisdom because knowledge without wisdom is nothing. I hope this literature will awaken the minds and hearts of the many who thirst, for those who crave for answers of questions unanswered. Welcome to the light.
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