Real Estate-Related “Get Rich Quick” Seminars

Boise, ID – November 7, 2011 – (RealEstateRama) — Jeanne Jackson-Heim, executive director of the Idaho Real Estate Commission, warned consumers today to be cautious in dealing with several enterprises offering seminars on how to “get rich quick” in real estate.

The classes may seem like a bargain, but to get the entire package one often has to pay substantial extra amounts for additional classes, DVDs, books, and other materials. The costs can range into the thousands of dollars, and consumers sometimes end up with nothing more than a swag bag and a sales pitch. “Read the fine print, know what you are supposed to get for your money, and be extra cautious before authorizing anyone to make automatic charges to your bank or credit card account,” Jackson-Heim warned.

The marketing of real estate investment seminars and associated training materials is not necessarily illegal. However, certain ideas and approaches taught in the courses may pose potential problems for unwary consumers. Many of these classes teach people to perform illegal acts, including engaging in activities that require a real estate or mortgage license. Jackson- Heim advises consumers to avoid participating in the following activities:

• Skimming equity from short sale transactions

• Preparing false documentation to support creditworthiness

• Making misrepresentations or false statements to lenders

• Pass-through escrows

“Keep in mind that if you engage in an illegal act based on something you learned at one of these seminars, the authorities will scrutinize your actions and hold you accountable,” said Jackson-Heim. “Of course, not all real estate seminars promote questionable activity, and it is up to the consumer to decide whether to pay for one of these courses, or not. Just remember, if it sounds too good to be true, it probably is.”

Idaho residents are encouraged to contact one of the following agencies for more information:

Idaho Real Estate Commission; irec.idaho.gov; (208) 334-3285
Idaho Department of Finance; finance.idaho.gov; (208) 332-8000
Idaho Department of Insurance; www.doi.idaho.gov; (208) 334-4250
Idaho Attorney General; www.ag.idaho.gov; (208) 334-2424
Boise Better Business Bureau; www.bbb.org; (208) 947-2101
Click here to read a BBB Business Review: http://bit.ly/sFkT19

Tagged as: Seminars

 

 

No related posts.

Recent Posts

• • Homeowners Choose Synthetic Grass As Best Drought Tolerant Landscaping Says San Diego Expert
  • Spring Real Estate Market Increases Investor Interest In Mountain View Property Management Services
  • Recession Fears in Europe Leads US Investors To Flight To Quality Says Bay Area Property Manager
  • Albuquerque Real Estate Agent Sees Foreclosures and Bank Owned Homes Dominating 2012 Market
  • Christina Ethridge, of The Ethridge Group Launches New Short Sale Service for Idaho

Popular Posts

• • Idaho Housing and Finance Association welcomes Steven Keen to Board of Commissioners
  • MILLION DOLLAR JUDGMENT AND FINDINGS OF MULTIPLE VIOLATIONS OF IDAHO LAW ENTERED AGAINST SEATTLE-BASED MORTGAGE BROKER
  • Permanent Injunction Entered Against Boise Man For Originating Mortgage Loans Without A License
  • Critical local, state and national housing issues to be discussed at the 2009 Idaho Conference on Housing on Oct. 19-20
  • Cottle joins IHFA's Board of Commissioners
  • Idahoans Who Don't Itemize Can Get Deduction for Property Taxes
  • Idaho Housing and Finance Association Welcomes John Insinger to Board of Commissioners
  • CRAPO TO DISCUSS RENEWABLE ENERGY EFFORTS, CELEBRATE OPENING OF ENERGY RESEARCH FACILITY
  • HUD Sends $13 Million Home Saving Lifeline to Unemployed Idaho Homeowners
  • New Partner Offers Hands-on Training for Homebuyers through Finally Home!® Homebuyer Education