The Renting Foreclosure Scam

on Tuesday, 05 July 2011. Posted in Credit

The collapse of the housing market has brought about a new scam as thousands of foreclosure houses now lay unoccupied. A criminal will find a likely house and call a locksmith, stating that they have locked themselves out. Once they are in the house, they change the locks so they have control of the house. The next step is to put up a "For Lease" sign outside, which rarely attracts suspicion from the neighbors in the current housing meltdown.