Real Estate Scams
The Channel 7 "Sunday Night' program on March 8th held a "Recession Special" which concentrated on how we can all save a bit of money and survive this commonly quoted financial "storm/cyclone" that we are being swept into at the moment.
One topic that was covered that sparked my interest was that of "Real Estate scams" that are affecting people all over the country. There are a variety of these scams but the one mentioned tonight was about companies offerring "too good to be true" property investments on no deposit loans.
Unfortunately these investments don't turn out to be anywhere near worth what we are initially led to believe. The trick is spotting the scam.
Well known property advisor and commentator Neil Jenman - who has addressed this sort of issue in the past in his articles - raised the possibility of a legislation to stop these scams happening at all.
Prime Minister Kevin Rudd who was in attendance was then invited to comment. He deviated slightly and steered conversation more towards new credit legislation to try and prevent borrowers from getting so heavily in debt, rather than tackling the actual scammers.
Check out a recent article written by Neil in regard to investment scams at:
http://www.jenman.com.au/news_alert.php?id=100
Also visit:
www.jenman.com.au
for more property information and articles.
$200,000
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