Home > Avid Law Center, Foreclosure, Mortgage Scams > Scam Alert: Fake Squatters Cash in for Keys

Scam Alert: Fake Squatters Cash in for Keys

According to KABC, two suspects have been arrested for an alleged scam involving fake home rentals. Investigators say the pair broke into foreclosed homes and then claimed they were living there legally.

The two allegedly would enter foreclosed and vacant homes, change the locks, turn on the utilities in their name and call the bank requesting “Cash for Keys.”

The San Bernardino County District Attorney’s Office says the bank, many times believing that they were renters, would simply pay the cash just to get them out.

After making thousands of dollars on the scam, the two were caught at a home in San Bernardino when law enforcement came to arrest them for squatting before they could collect the money.

Vance Welch, San Bernardino County deputy district attorney, says this scam is an example of how the banks need to be more proactive. But also law enforcement needs to not “look the other way” when dealing with squatters.

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s