• Call/Text: (813) 784-7744
    • Send Me an Email

The Tampa Real Estate InsiderThe Tampa Real Estate Insider

South Tampa Realtor

  • Menu
  • Home
  • Meet Rae
  • Search
    • Advanced Search
    • Map Search
    • Listing ID Search
    • Address Search
    • Browse by City
    • My Account
  • Buyers
    • Buying With Me
    • Featured Properties
    • Mortgage Calculator
    • My Listing Manager
  • Sellers
    • Selling With Me
    • Sold Portfolio
    • FREE Home Valuation
  • Communities
    • Channelside District
    • Downtown Tampa
    • South Tampa
    • Seminole Heights | Tampa Heights
    • Gulf Beach Area | St. Petersburg | Clearwater
    • Westshore Marina District
    • Downtown St. Pete
    • Cheval Golf Community
  • TREI Blog
  • Get in Touch
  • Rave Reviews

What is a Straw Buyer? Beware of Mortgage Fraud-Signs you may be a Victim!

The Tampa Bay area is now experiencing situations that may involve mortgage scams.  This was recently brought to my attention when I had a buyer who wanted to make an offer on a home that involved flipping a property two times in the same transaction.  Basically, the owner of the home made a deal with a 3rd party buyer to purchase the property outright using cash.  This was done using an option contract.  The 3rd party then tried to obtain another buyer (which was my buyer) to sell the home at a higher price to make a quick profit. Only after digging through the public records and speaking with a title company, did we find out that the property had an option contract, which made it impossible for my buyer to obtain financing.  My advice is to do your research before making an offer on a property.

Here’s the definition of a Straw Buyer:

Straw buyers are people who consent that their names and personal details are used by certain people with the purpose of obtaining mortgage loans with no purpose of ever inhabiting these homes. Sometimes a straw buyer will be offered several thousands for the favor, or they may never know that their name and information will be used on the loan application. Straw buyers are also asked to sign forged documents.

Straw buyers are usually involved in the so-called mortgage fraud rings. The initiator of the scheme usually leaves the country after successfully obtaining large loan amounts for overvalued properties, and the straw buyers may end up being sued by the lenders who extended the loan money.

Even if straw buyers claim to have participated in the mortgage fraud uninformed of the fraudulent activities of the perpetrator, they are responsible for participating in criminal offence.

Having a buyer’s agent is more important than ever in our housing market. If you need help purchasing a home you can reach me at 813 784 7744 or email

Posted in: Real Estate News & Info Tagged: house flipping, straw buyer

Post navigation

« Florida Mortgage Delinquencies WORST in U.S.-Tampa Foreclosures Creating the Come Back of the BIDDING WAR.
Towers of Channelside Condos- Is HOA Association Stable?-Tampa, Fl »

Search Our Blog

Search for:

Browse by Category

Browse by Topic

Best Neighborhoods in Tampa Best Places to buy a home buyers market tips Buying a Home buying real estate in tampa Channelside Condos For Sale Choosing the Right Realtor Condo Market News Condo Market Update Tampa current housing market in tampa florida Downtown Tampa Condos and Lofts Downtown Tampa Updates Financing and Mortgage News First Time Home Buyers First Time Home Buyer Tax Credit First Time Home Buying Advice Foreclosure Statistics Tampa FL Historical Neighborhoods-Tampa homestead tax exemption How to sell as short sale investing in condos Investing In Real Estate Luxury Home Communities new construction tampa property tax update Real Estate Investing Tampa real estate market tampa real estate news Relocating to Tampa sales statistics Selling Your Home Short Sale Process Tampa Short Sale Realtors Tampa South Tampa Real Estate Tampa Housing Market Tampa Real Estate Tampa Real Estate Market Tampa Real Estate News Tampa Realtors Tampa Relocation Guide Things to Do in Tampa Tips for Listing your home Tips for Sellers Top tampa realtors When is a good time to buy?

Explore Communities

  • Channelside District
  • Downtown Tampa
  • South Tampa
  • Seminole Heights | Tampa Heights
  • Gulf Beach Area | St. Petersburg | Clearwater
  • Westshore Marina District
  • Downtown St. Pete
  • Cheval Golf Community

Recent Posts

  • Tampa Florida Extended Weather Forecast
    Tampa Florida Extended Weather Forecast
    19 hours ago
  • Local Cultural and Social Events in Tampa
    Local Cultural and Social Events in Tampa
    19 hours ago
  • Top 10 Downtown Tampa Condominiums for Sale
    Top 10 Downtown Tampa Condominiums for Sale
    20 hours ago
  • Virtual Staging and Maximizing Your Profit When Selling
    Virtual Staging and Maximizing Your Profit When Selling
    1 day ago

Rae Anna Conforti

  • Call or Text Me

    (813) 784-7744

  • Send Me an Email

    Ready to Help

  • 1001 S. MacDill Ave

    Tampa, FL 33629

© 2021 Tampa Real Estate Insider | All Rights Reserved

Agent Reputation – Real Estate Website Design

Privacy Policy | DMCA | Sitemap