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Rental Fraud Alert in San Jose and surrounding areas

October 16, 2008

These are all rumors – I have no first hand knowledge – however, my friends are running into these issues:

1) The property manager puts a rental on craigslist. The same day “evil person” puts the same property on craigslist for less money and with easy qualifying guidelines, ie; no credit report. Evil then shows up at the house, collects money and disappears with the renters money.

2) Owner receives a Notice of Default. Owner rents the property to a renter – collecting rents and deposits all the way up to the trustee sale – and sometimes even after. The bank then shows up to evict the tenant.

If you or someone you know is renting something – check to make sure you are actually working with the owner and check NOD records. Your great local Realtor is a great resource for this information.

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