| || |
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