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Showing posts from May, 2011

REALTOR ALERT - International Scammers Have You In Their Sights

I previously posted about this last September. It appears that the problem persists, and is worsening:

Last week, WalletPop reported:


The Internet Crime Complaint Center's latest scam alert includes a counterfeit check scheme targeting real estate professionals.

Alerts by theIC3, a partnership between theFBIand theNational White Collar Crime Center(NW3C), reflect recent cyber-crime trends and new takes on existing scams. Here's a summary of the new threat:


Counterfeit Check Scam Targets Realtors and Real Estate Attorneys

The IC3 says it's received complaints about counterfeit check scams for years, which typically involve criminals convincing unsuspecting victims to cash checks or money orders and then wire them a portion of the funds overseas. Only after wiring the funds do the victims learn the check was fake -- leaving them holding the bag for the full amount.

The latest variation on this scam targets realtors and real estate attorneys, who are being contacted by overseas fr…

‘Sweet Home Chicago’ affordable housing ordinance passes

WBEZ Reports: ‘Sweet Home Chicago’ affordable housing ordinance passes
In one of his final legislative acts, Mayor Richard Daley compromised with the Chicago City Council on an ordinance to fund affordable housing.It took nearly two years of stalling, back and forth negotiations and political maneuvering.But now some tax money is available to developers to buy and rehab vacant Chicago homes or apartment rentals. The money comes from a pot known as tax increment financing – or TIFS.Ald. Walter Burnett worked with the neighborhood coalition known as Sweet Home Chicago to get the measure passed. Advocates see it as a way to mitigate the foreclosure crisis."People need some relief and they need some help. And this is a good step in the right direction. We pray that the next administration -- that it won’t take as long or be as hard," Burnett said.The ordinance allows developers to receive up to 50 percent of the cost of purchase and rehab of multi-family rental buildings if more …