Scam alert

[CapeCorallost]

I see it all over my area.

[coastalrap]

Originally Posted by firemed

Thats so common in Lee County. People are not paying the mortgage and just keeping the money from the rent. Well 115% financing was not a good Idea so I don't feel sorry for the banks, I do feel sorry for the people that lost jobs and are unable to make payments. But the get rich quick speculators with no money to start with should be in jail. A red flag is a 500k loan to someone with a 35k a year job and no down payment. These are the people that made this mess and walk away cash and all the appliances. What in the world happened to common sense! This whole mess was just greed from the top to the bottom!

The gubmint got in the way of common sence. Lenders have been pressured to loan money to lower income people, they did. If you look deep enough, you usually find our gubmint as the root cause to most of our problems. Then they screw it up more with their "fix", bailout anyone?

[rusty78]

Originally Posted by coastalrap

The gubmint got in the way of common sence. Lenders have been pressured to loan money to lower income people, they did. If you look deep enough, you usually find our gubmint as the root cause to most of our problems. Then they screw it up more with their "fix", bailout anyone?

Yes I agree with you....a fed bailout is going to screw it up even more and will only going to help the ones who over bought a home...only to realize that they could not afford it once their teaser rate mortgage adjusted......of course the poor slobs that bought only what they could afford...and played by the logical rules...with a fixed rate mortgage...are as usual...gonna get screwed...for uncle sam will once again be bailing out the lower income...who will still not be able to afford what they bought......

[firemed]

Right now it seems that the scam is on the banks and owners. Look who owns the property you are thinking of buying or renting. We are finding some homes are rented without the owner knowing about it. Anyone can say they're a realtor or become a realtor.

[GFMRE]

Anyone looking for a rental should check the Lee County Property Line website:

Lee County Property Line ==> database search ==> real property search

Confirm that the owners name on the lease and the name who the rent is paid to is the same as the owner of record in the county database.