STRAW BUYER SCAMS

•    Scam artists find ways to cash out equity of real property entrusted to them
     using "creative financing". They may employ phony "straw buyers" to sign
     loan payments.

•    The straw buyer may have committed both state and federal crimes. His
     or her credit is ruined and he is obligated to pay the loan amount.

•    Your best protection is to NEVER submit to pressure and to ALWAYS
     insist on getting financial or legal advice before you commit to a contract
     or loan. 



                    Return to Real Estate Fraud Unit Page