…it usually is

As if we don’t have enough rip-offs going on these days.

Craigslist in Minneapolis is getting hit with multiple listings for nice apartment and house rentals at great prices. This would be welcome, except that they’re scams. When I made an inquiry via email about a house for a friend, this is what I got back:

(from Phamr Thomas <phamrthomas@yahoo.com>) Hi,

I did get your response concerning the AD I posted on craigslist. The house is still available but presently I’m not around.. I did bid for a portion of petroleum land sometimes ago in West Africa and fortunately I won the bidding so I have to move quickly down to Africa to have my company set up because I will still have to rebid for it in the next 10 years. I came over here with my wife, we both built the house when we got married. As soon as we settle down here I had a thought of selling the house so I have to look for an agent, after getting one, we got a deal but later my wife advised against that.. She said we may not be able to win the bidding next time, in other to keep our head when we return that we have to keep the house. I reasoned with her and accepted her advise. So I contacted the agent back and requested for my keys and documents. Later we decided to have the house rent out, we would have give the same agent this job also but the truth of the matter is that the agent would want to handle it professionally and the occupant may not be able to reason along with him later.  If you notice, you will discovered that the price we are offering is far below standard price, this is enough for you to know that we are not after the rental fee but the  absolute care for the property. I know there is no way I can be sure that you are the right person to live in the house because we won’t be able to see physical before sending you the keys and the documents to occupy the space. But I just had a  feeling that anyone who knows what it takes to put the kind of structure down should know that maintaining a building is mandatory, so if you belief you can take good care of the house and handle it like yours then I will be more than happy to let you rent the house.

House Address: XXXX 29th Avenue S Minneapolis, MN 55406

First Month Rent:800
Refundable Security Deposit Payment:$800

Please if you are ready now to occupy the house kindly provide the information below for record purpose
You could give me a call as soon as possible so we could proceed asap..

Please note than you will only be able to drive by the house for now but not have a look at the interior until i have sent the keys and documents of the house to you..and the requirement for getting the keys and documents of the house is a fully refundable payment of $800 USD,which is the security deposit.

Please note that the deposit made is fully refundable should in case you finally gain entrance into the house after receiving the keys and documents and feel unsatisfied or uncomfortable with the interior,but i am giving you a benefit of doubt that you will love everything about this lovely home..

My Cell Number Is (+234-8083989796 OR 011-234-8083989796).

I Await your response so that we can discuss on how to get the document and the keys to you.

Best Regards
PHAM THOMAS R….
I don’t believe in redacting to protect the guilty, but I did eliminate the street address.

Look out for any “reply-to” address for an unbelievable rental offer on online realty listings that goes to yahoo.com or other free mail sites, and watch out for email responses in the vein of the above load of moose crap.

If it’s too good to be true…

When I was first involved in buying a personal home, some 20 years ago, I distinctly remember the realtor telling me that adjustable-rate mortgages (ARMs) were bad news despite their outwardly-attractive facade. (I don’t believe sub-prime loans even existed then.)

Now cue up a story like this one. Would-be home buyers, attracted by the “pay-a-little-now-pay-more-later” siren song of ARMs and subprime loans, got in over their heads.

Worldly folk should have known better, period.

Even those less worldly buyers, who were sucked in by unscrupulous realtors and even less scrupulous mortgage houses, have no excuse for not questioning the wisdom of taking out loans that had even the possibility of causing financial ruin.

In most cases, those who wail and gnash their teeth about home foreclosures and resultant bankruptcies have no one but themselves to blame.