why the government LOVES REAL ESTATE FRAUD | Episode 47


Manage episode 194738515 series 1885205
By Carole Ellis and Carole Ellis - http://www.REI.today. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Did you hear the one about the real estate scammer and his LOVEAFFAIR with the federal government? It’s pretty ridiculous if youdig into the details. And you know I’ve got them all here for you.I’m Carole Ellis. This is Episode 47.We’ve all read the news releases from the state attorneygeneral, the FBI, the Justice Department, the Consumer FinancialProtection Bureau, etc… All those entities that love to get on thenews and just badmouth the HECK out of real estate investors who,they say, have been SCAMMING away like crazy. The message there is,as you know, that the investors are SCAMMING innocent homeowners.In reality, however, the government LOVES the cons out there thatare giving YOU a bad name, and I’ve got the proof in today’sepisode.Before we go any farther, however, I want to take a quick minuteto talk about real real estate scammers. The guys that give YOU abad name, make it hard for you to work with homeowners, and justgenerally are bad for the industry. You can learn something fromthem. That’s right, that’s what I said. You can LEARN somethingfrom them. You can learn how not to get caught in their web. If youwant the best protection out there from real estate scammers, we’vegot a new resource for you. It’s our REI Today Scam Alert List, andwe’ll email you every time a new scheme hits so that you know whatto look for and how to keep yourself, your business, and your MONEYsafe. Sign up for the REI Today Scam Alert List at www.rei.today/scamalert(one word) today.Now, back to the federal government’s absolute LOVE AFFAIR withreal estate scammers. Here’s the deal. Recently, a Los Angelesinvestor pled guilty to participating in a mortgage fraud schemewherein he scammed distressed homeowners out of fees for “rescuing”them from foreclosure and made it appear to many lenders (somesuccessfully, some unsuccessfully) that the homeowners had cleartitle to their properties and had satisfied their debts. Prettysneaky, obviously illegal, and clearly taking advantage ofdistressed homeowners desperate to avoid foreclosure. A number ofhomeowners, as you might imagine, eventually were foreclosed onanyway, and some of the others are now tangled up in charges oftheir own because of the fraudulent document trail. Basically, it’sa huge mess. This is why you need REI Today Scam Alert, folks!But here’s the kicker. The U.S. government is not JUST afterthis guy for restitution, penalties, and fees for a foreclosurerescue fraud (and, I’m sorry, but you KNOW the homeowners aren’tgoing to see the vast majority, if they see any, of those damages).They’re after him for TAX EVASION. That’s right. They’d like thisguy who made hundreds of thousands of dollars illegally on aforeclosure rescue scheme to pony up his IRS dues on thoseill-gotten gains.Now don’t you think there’s a bit of a conflict of interestthere? Don’t you think that there’s a really decent chance thatsomeone, somewhere, back in oh, 2005 when this guy first gotstarted, might have seen a great opportunity to basically get adouble whammy out of the whole thing by letting him SLIDE a coupleyears? Hey, what are the problems of a few distressed homeowners tobeing able to collect a HUGE tax bill and major fines, fees, andpenalties for wrongdoing as well.It’s bad relationship all over, guys, and it just goes to showyou that it’s your responsibility as a real estate investor and asa homeowner to look out for YOUR best interests. The governmentCANNOT be trusted to do it for you.Now if you’re wishing you could trust SOMEONE to keep tabs onthe scammers and the fraudsters out there, I think you know what’scoming up next. That’s right, folks, you need the REI Today ScamAlert in your corner! Sign up for all the signs of fraud, the juicydetails on who got caught, and how to keep yourself and yourinvestments safe at www.rei.today/scamalert(scamalert is one word) and then, while you’re at it, text REITODAYto 33444 and I’ll immediately ALSO provide you with fast,immediate access to all sorts of great trainings, news coverage,interviews, and lot more timely information that will help makeyour investing safer, faster, and more profitable.And remember, when you do that, you’ll also be able to GROW YOURNETWORK by interacting with me and your fellow listeners to REIToday… so stop by to ask questions, make comments and network withother investors across the country. Text REITODAY no spaces noperiods to 33444 or head over to www.rei.today rightnow.REI Nation, thanks for listening in and always rememberthis:Your best investment is your own education.

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