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Scam: #1449

Scam Alert

Business

  • Posted By: Anonymous
  • Submitted: 10/09/2010
  • Severity: 8
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B & D Rich Holdings, LLC

Short Sale Investor Scam

Tampa, Florida

This company says they will buy your home and negotiate with the lender. They say they will back away if it is not in the best interest of the seller such as not enough room for them to resale at a profit or seller changes their mind. However they file a notice to purchase in the public records so unless you pay them a fee they will not back away as promised. They have a negotiating team called PREICO Home Solutions who help drag this out until the Lis Pendis is filed. In order to stop the foreclosure the seller has to pay Lucius Baston, JR, the President a fee. He said he usually gets 10K but he settle with us for 5K. I believe the State District Attorney is now reviewing the documents. This is so sad that someone like this preys on people already in financial trouble. Don't speak with these people. They come across so nice and sincere and end up messing your credit big time

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