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Update to DRE Consumer and Industry Alert Regarding Short Sale Fraud

Date: September, 2010

Several months ago, the Calif.Department of Real Estate issued a warning to the real estate industry about short sales and growing fraud in this area. This update is on the growing, questionable, and sometimes unlawful practice requiring buyers to pay the fees charged by short sale negotiators.

DRE Short Sale Update

Commisioner Warning Letter to Industry Professionals

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Short Sale Fraud Alert

Date: June, 2010

Attorney General Edmund G. Brown Jr. warns that while short sales can provide homeowners with a last-ditch alternative to foreclosure, this market is rife with scam artists. Homeowners and buyers, agents, and lenders should beware of short sale negotiators who operate without licenses, use straw buyers or charge illegal fees.

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Warning Regarding Residential “Short” Sale

Date: April, 2010

If you are considering engaging in a short sale transaction, you should fully educate yourself about the mechanics of the process and the related legal and ethical issues and work only with legitimate professionals. This report from the California Department of Real Estate will help you avoid some serious pitfalls.

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Consumer Alert Regarding Residential Shortsales

Consumer Alert Regarding Residential Shortsales-Spanish

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Fraud Warning Regarding Forensic Loan Audits

Date: February, 2010

This alert and warning is issued by the California Deparment of Real Estate to call to your attention the often overblown and exaggerated “sales pitches” regarding the supposed value of Forensic Loan Audits. It is critical to note that a loan audit report has absolutely no value as a stand-alone document.

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Fraud Warning Regarding Forensic Loan Audits
Fraud Warning Regarding Forensic Loan Audits-Spanish