Foreclosure Fraud at the Auction, Too

Posted on December 29, 2010


There is much scandal, corruption and carpetbagging rising in the world of foreclosure.
This link In the OC Register was especially interesting, in that it showed that auction companies are also trying to defraud buyers of foreclosed homes.
I am not usually sympathetic towards those who traffic in human misery by buying foreclosed homes, but I almost feel sorry for this California couple, who made a winning bid for a property in Corona, only to discover that the company wanted them to pay even MORE money, a so-called “buyer’s premium”, and wanted fifty thousand dollars over the bid. Certainly, if this premium was legal, they should have announced it before the auction so bidders could calculate it into their auction bids.

See for more details.  Christine Axsmith, Esq. is a Washington, DC – based attorney specializing in foreclosure fraud, illegal foreclosure, real estate fraud.  Her credentials can be viewed at her LinkedIn profile.  The Axsmith Law website has a wealth of information for review related to elder law and foreclosure prevention. 
Other sources of valuable information are the AARP website, the Federal Trade Commission website and the HUD website.