Fake landlord and deed fraud scams plague Detroit buyers and renters

Cash sales don`t provide safeguards like title searches that mortgage companies insist on when they`re financing a deal...

A glut of repossessed and abandoned houses in Detroit has contributed to a proliferation of “fake landlord” and deed fraud scams that are not only devastating the finances of many would-be renters and buyers but also creating headaches for owners who discover they’ve got tenants they didn’t choose.

Exacerbating the situation, mortgage lenders are cautious about extending credit and home prices are so low that most deals are for cash, putting Detroit residents at greater risk of buying or renting homes from scammers who don’t actually own them....

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RSK: I would like a local attorney or Title Company to chime in on this. Can this actually happen in Dane Co.?



- - Volume: 9 - WEEK: 48 Date: 11/23/2021 9:39:10 AM -