Foreclosure Scammers In Michigan

Posted on April 22, 2008
Filed Under Foreclosure Homes |

Right across Michigan county treasurers are warning house owners to be wary about prowling scammers trying to lure in prey into their net. The trend has increased in recent months. Saginaw County Treasurer Marvin D. Hare says that although he is not quite sure when it started but warnings via e-mail are being sent to other treasurers in the state repeating the same warning as they are all deeply concerned about this. The victims are the house owners who are threatened by impending foreclosure and desperate for rescue measures. Many have gone delinquent on property taxes. The house owners are being warned to be wary about those who ask for the deed to be signed off for some amount of money. The letters usually run like this – ‘your house is in foreclosure, get some money out of it while you can.’ They even offer money. The traumatized victim usually is in no mental condition to weigh the matter. Once the cheats manage to get the signature they are in possession of the property and will never bother to offer a cent for it.

The recent alert was dispatched by Steve Pickens the county treasurer of Isabella County. He became concerned when two house owners reported having received such letters offering $250 for the signing away of the property. The wording of the letters are identical although the places of origin are Hawaii and Pennsylvania. Another came from Arizona and its destination was to a resident in another county. Lapeer County too sent out a warning although as yet no scam has been reported. The county is being forearmed against the future.

In Saginaw County 580 units went into foreclosure due to mortgage as well as tax payment failures. The units were either houses or vacant land. According to the law the foreclosing party must publish the details of the units in the newspapers. The authorities are not sure whether the scammers get their information from this source. The authorities definitely do no directly provide any detail. A look at the newspaper listing gives a clear picture of the enormity of the foreclosure scene.

In Saginaw County the economic picture is gloomy with many unable to pay taxes. This has led to the tax authorities to allow for some time for the people to recoup. Repo Homes are also resulting from rising unemployment. Many job providers have downed shutters leading to many being laid off.