Protecting Senior Clients From Real Estate Fraud And Scams

2 hours ago Protecting Senior Clients from Real Estate Fraud and Scams. Seniors are disproportionately targeted by fraud and scam attempts. Social isolation, fear of losing independence, mental and physical decline, and other factors can all make seniors more likely to fall prey to a scam artist. As a real estate professional, you can take steps to help

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3 hours ago When it comes to frauds and scams, one of the most commonly victimized groups is the senior population. It is sad to think that older adults who have spent a lifetime working to save for retirement are at risk to lose their …

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6 hours ago Inform clients about common fraud schemes. Understanding what’s at risk is half the battle. Always sit your clients down and have a …

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6 hours ago A real estate agent contacts the elder and says they have an out-of-town purchaser who wants to get a contract signed before they leave. If elders fall for this, they have no way of tracing that person; no way of knowing if they actually exist. This scam usually involved a spur-of-moment decision. He or she may say something like, "My out-of

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2 hours ago She advised seniors and sincere relatives to educate themselves on current scams. She urged people to contact authorities to report real estate fraud quickly to police and district attorneys’ offices. She also advised seniors not to sign any paperwork without first consulting an expert such as a lawyer, a financial planner or a real estate agent.

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3 hours ago Learn the basics of how rental listing scams work. Get the terms of your rental in writing, including fees, rent, and maintenance. Get a copy of the lease, signed by both you and the property owner/manager. Do a search on the owner, real estate management company, and listing. If you find the same ad listed under a different name, that’s a

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1 hours ago Real estate agents, attorneys, lenders, title companies and homebuyers (including real estate investors) are all targets. Follow these simple steps to …

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1 hours ago Financial fraud and abuse takes many forms and the culprits wear a variety of masks. From mortgage scams that target the elderly, practices used by unethical moving companies and contracors, predatory lending that discriminates against vulnerable populations, and credit card fraud that strikes broadly, the list goes on.

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Just Now Consumer Reports magazine: August 2013. Illustration: David Senior. Scammers are out there, and unfortunately retirees are often their targets. According to …

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3 hours ago Identity theft occurs when someone steals your personal information to commit fraud. No matter how much goes missing, you should take action. Read more. Learn how to protect yourself and others from fraud and scams. Fraud and scams can happen at any time and any place. It’s important to know the warning signs. Read more. Explore basics

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5 hours ago The investment cons used to target seniors are becoming more and more complex. They include: charitable gift annuities, Ponzi schemes, promissory notes, unregistered securities, and viatical settlements. You can protect yourself and your loved ones by: Not letting scare tactics force you into making an investment decision quickly, especially

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8 hours ago It is natural for someone buying real estate to look for the best deal through each step of the process. This can lead to scams involving mortgages and predatory lending, wire transfers, title and deed fraud, home inspection scams and more. “Buyer beware” may never be more important than when buying real estate.

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(305) 262-82261 hours ago If you do face charges, a Florida real estate fraud attorney can help you defend yourself against fraud claims. Call Ricardo Rodriguez at Rodriguez Law at (305) 262-8226. Rodriguez Law, P.L. is dedicated to providing quality personal legal services to our clients. Our reputation for combining quality, knowledge, and technology to deliver

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5 hours ago Here's how to protect yourself and what to do if you fall victim. With the FBI reporting nearly $150 million in real estate fraud losses last year, Americans—and the industry pros who serve them

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5 hours ago A variation of the lottery scam is the sweepstakes scam, where the criminal requires the victim to pay a fee to collect their “winnings.” At the peak of the Jamaican Lottery Scam, one of the most pervasive sweepstakes scams in the U.S., Jamaican con artists placed approximately 30,000 phone calls to the United States per day and stole $300

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5 hours ago Elder Fraud and Financial Scams Targeting Seniors. Elder fraud and financial scams can quickly deplete an older adult's nest egg. Research reported by Comparitech, a cybersecurity and cyber-awareness company, estimates a staggering 7.86 million cases of elder fraud occur in the U.S. annually, resulting in $148 billion in losses.

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4 hours ago The cost of the repairs, $10,000. As shown in the real estate sales contract, the mother reduced the sales price of her home to the buyer by $10,000 to make the stated repairs. Sounds like more than a red flag indicates California Elder Abuse Attorney Peck. The home had been generating $10,000 a year in rental income for client’s mother.

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Frequently Asked Questions

Are there any real estate scams involving seniors?

Real estate scams involving seniors should not only be a concern to seniors but to their families as well. Here are some increasingly common scams involving seniors and real estate.

How do I spot elder fraud abuse scammers?

Elder fraud abuse scammers can be tough to catch. Many scammers have paperwork that appears to give them legal authority to act -- including powers of attorney, authorizing signature cards, and vehicle pink slips.

Why are seniors so commonly a target for fraudsters?

Many scammers think of seniors as prime targets because of their retirement savings or because they may live alone. There are also many outdated and downright inaccurate stereotypes about older adults that make them popular targets. Luckily, there are plenty of ways to stay ahead of the fraudsters and avoid getting scammed.

What are some common financial scams perpetuated against older people?

Financial scams perpetrated against older people include a broad range of conduct -- from outright taking of money or property to using technology to get personal or financial information, to getting paid for care, products, or services and then not providing them. Keep an eye out for these common scams. Catfishing scam.

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