Except the vultures are dressed in business suits so people trust them. The vultures smile and are charming. They produce business cards. Some of them work for serious sounding real estate companies, many of which were formed practically overnight to take advantage of the vulnerable. People in pain are vulnerable.
Yet, when you talk to these vultures, they say they are helping. They seem so sincere. I get calls and emails from these guys all the time. I can spot them, but I don't think others see them quite the same way. When short sale activity rises, the amount of short sale fraud goes up as well. Short sales are increasing. So is short sale fraud.
Some of the crooks are probably naive. You can tell them they are committing short sale fraud and they will deny it. That's because they put their own spin on it. I've never met a crook who admitted to being a crook. Even Richard Nixon did not believe he was a crook.
At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.
