Things about Opinion: 'We buy houses' scams targeted by proposed Philly law

HARRISBURG (KDKA) The state Chief law officer is warning consumers of a new fraud circulating. Chief Law Officer Josh Shapiro is cautioning all Pennsylvania homeowners to be cognitive of a brand-new rip-off that specifies "We Purchase Houses." Shapiro says the indications that can be seen on street corners are often a scam looking to benefit from people experiencing financial obligation, task loss or other significant life changes.

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"Indications offering to purchase homes for cash are increasing weekly on hectic street corners, however these sort of transactions are often frauds that leave house owners in even worse monetary shape than they were before. These fraudsters are attempting to make use of Pennsylvanians in vulnerable financial circumstances, and my Bureau of Consumer Protection isn't purchasing it." Services behind the street indications will frequently make an offer to purchase the consumers house for less than what it is really worth.

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The purchaser may guarantee escape from foreclosure but will take the deed without settling the home mortgage balance, leaving the customer strapped with monthly payments and based on foreclosure. Another scam will lure in clients with promises to buy the house "as-is," however will in some cases back out last minute demanding specific repairs being made, leaving the client to bear the cost.

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Lawyer General Shapiro also advises looking for genuine estate legal suggestions when it pertains to "Cash for Home" real estate deals. Anyone who thinks they are a victim of a "We Buy Houses" scam is motivated to file a grievance with the Attorney General's Bureau of Consumer Protection by calling or by visiting their website.

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