Couple Arrested for Bank Foreclosures-Related Scam

Bank foreclosures have always been considered by neighborhoods to be a problem since they attract criminal elements. But you would not believe the length some people will take in order to take advantage of innocent individuals and families.

Authorities have arrested a couple for posting Craigslist ads involving one of the many Albuquerque foreclosures for saleand posing as its landlord. An unsuspecting family of ten fell victim to the scam and rented out the unit from the scammers.  

The said family paid the scammer $2000 after has been convinced that the court has given them the right to occupy the foreclosed property and rent it out until its sale. They occupied the property since January 11 and only realized they have been scammed when the bank’s maintenance crew showed up at their front door.

A neighbor said a foreclosure sign was posted on the homes window during the holidays and also confirmed that the home is one of the bank foreclosures in the area during the last nine months. The neighbor also saw a woman and two men cleaning up the place a couple of weeks before the family moved in.

Ever since the increase in the number of New Mexico foreclosures for sale, authorities have warned the general public about the many scams which involved these bank foreclosures and other foreclosures for sale.

Police have no idea if the family will be able to get their money back and are concerned about the possibility of more families falling into the same fraud scheme.

The family is still living in the said repossessed property since they have nowhere else to go and they really cannot afford to move into another home. The security company which manages the said property agreed to let the family stay until new living arrangement has been made.