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Real Estate
The Real Estate Adviser |
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November 7, 2002
'Equity skimming' and other lender scams
By TOM KELLY
The Real Estate Advisor
The Real Estate Advisor
The real estate scam known as equity skimming, or rent skimming, used to take place on easy-to-assume home mortgages.
For example, many years ago, before the Federal Housing Administration and Department of Veterans Affairs increased their guidelines on loan assumptions, con artists focused on these government loans because the loans were insured.
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Previous columns:
- The FHA may be trying to give you a refund, 10-31-2002
- All-equity programs are not for credit-challenged, 10-17-2002
- Dyna-Mo raring to go at 65, 10-10-2002
- New tools help keep seniors in their home, 10-03-2002
- Off-campus rentals can be winners, 09-26-2002
- Creative ways to help kids buy homes, 09-19-2002
- Boomers hold the key to housing's future, 09-12-2002
- Moving mom triggers remodeling questions, 09-05-2002