Sharks smell blood in the water.”, I think that is how the old saying goes.
Unfortunately, this old proverb is all too real in today’s Phoenix real estate market. When people struggle, hustlers, sharks and scam artists show up to try and take advantage of fear and suffering.
Phoenix AZ real estate is down more than 30% in the last year alone. Phoenix AZ real estate prices have (for the most part) retraced gains and are now back at 2004 prices. As a result, there are many homeowners who are weighing the decision to walk away from their mortgage and let the home be foreclosed upon.
Phoenix AZ homeowners who are facing a short sale, ask themselves “why pay??”
Phoenix AZ Renters should request Landlord’s Credit Report Due to the financial straits, some owners are crossing the moral ethical boundaries are making bad decisions to take advantage of their banks/lenders and other innocent individuals.
Homeowners who purchased Scottsdale AZ real estate investment properties are offering the homes for rent. The problem is that they are not telling their tenants that they are already behind on their mortgage and a foreclosure proceeding is imminent.
A new scam is popping up and want to make sure Phoenix AZ real estate agent s and Scottsdale AZ real estate buyers or renters are aware.
Would be landlords are offering their home for rent at a deeply discounted price and not paying their mortgage.
We now have entered an age of Tenants asking for a credit report from landlords.
Make sure you work with a Phoenix AZ real estate or Scottsdale AZ real estate agent who is experienced with landlord / Tenant rights.
Make sure you have your Scottsdale AZ real estate agent help you request a credit report and a proof of the mortgage being current.