Cliff's Notes...on Real Estate

Useful information YOU may use to help YOURSELF buy or sell a home in Redwood City, San Carlos, San Mateo, Belmont, Menlo Park, Atherton, Portola Valley, and Woodside. With a total of 31 years of experience in San Mateo County real estate, I bring to the table what YOU want in a Realtor.

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Name: Cliff Keith
Location: Redwood City, California, United States

Born April 6, 1946 in Bloomington, Illinois I am a third generation baker, Licensed California Real Estate Broker since 1976. Married my loving wife Diane in 1977. We have two wonderful sons, both are musicians and living in Hollywood, CA. During my 32-year career as a Realtor I have worked for two Realty Companies; currently I am an Associate Broker with Coldwell Banker Realtors in Woodside, CA. 94062, The cornerstone of my business is built on the principles of "By Referral Only"., SCHOOLS ATTENDED: Normal Community High School, College of San Mateo, San Francisico State University Favorite Quotes: 1. "The young man knows the rules, but the old man knows the exceptions." - Oliver Wendell Holmes 2. Perfect is usually good enough. Hank the Cow Dog 3. Life never gives you anything great when you say "I can't.", Anonymous 4. If at first you don't succeed try second base. Yogi Berra

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Sunday, January 20, 2008

A Foreclosure SCAM!

A SCAM IN FIVE STEPS:

1. Paul and Debbie have owned their home for nine years, Paul loses his job and Debbie is a stay at home mom and now face forclosure.

2. Unscrupulous BAD Finance Company says it will pay off the mortgage, cover closing costs, and give Paul and Debbie $20,000.00 in cash, in return for a "quit-claim deed".

3. BAD Finance Company also will let Paul and Debbie stay in the house, paying rent at twice their current mortgage payment, with the promise they can buy the home back later.

4. Paul and Debbie bites, figuring they'll use the $20,000.00 to cover their rent until Paul gets a new job. They deed over the house to BAD Finance Company for about half the home's value of $750,000.00, giving up their equity.

5. In a few months, Paul and Debbie can't pay the new, higher rent, and BAD Finance Company evicts them.

You may think this couldn't happen to you and it probably won't. Just be aware there are not so nice people out there that will try and take advantage of you. Do business with only those you know and trust. A referral from a trusted family member or friend is a good place to start.

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posted by Cliff Keith | 11:34 AM | 0 Comments Links to this post