cReelEstate.com

By Michael Creel
February 26, 2008

As the foreclosure rates increase across the nation thousands are finding themselves homeless for the first times in their lives. Nationally, 233,001 homeowners received notice from lenders last month due to overdue payments; that's a 57% increase from a year prior.

We hear phrases used such as "they lost their house", when the truth is many of these people are now homeless. These people now have ruined credit scores in a society that makes just about every decision based on that score. Employer's pull credit on job applicants, landlords for rental approval, insurance companies to set your rates, and of course credit card companies.

Credit card companies can even close the debtors account even if they are current in their payments; a sort of preemptive strike against the cardholder running up a debt they cannot afford to pay.

Where will all of these people go? How do you rent an apartment or home with a foreclosure on your record? How do you buy a car to go to work? These people, who were our clients not so long ago, now may find themselves living in a shelter and the family pet they once loved sitting at the pound.

Sadly, even house pets have found themselves homeless as a result of the fiasco, and are being abandoned  across the nation. Although there is no way to track the actual number of abandoned pets, it's thought to be in the thousands. There have even been instances where pets were found starving inside abandoned homes and had to be Euthenized.

What can we do?

Maybe we can lighten up on judging people by what credit bureaus say, and talk to the people themselves and see what's in their heart. I recently rented a home of mine to a fellow who had gone through a divorce, and I ran no credit report on him. He impressed me as being a good person, with a good heart, and he had a good job (that's still required). I also knew his employer does strict background checks and drug screening, so that helped.

He was quite surprised when he asked how long before he had an answer regarding his application, and I said you can move in tomorrow. He was shocked and quite happy to say the least. He's been an ideal renter, always pays on time, and keeps the property spotless.

Now to be honest, he may very well have impeccable credit, to this day I still don't know. My point is that intuition still works, and some of these thousands of people out there will need a break. They will need landlords that will judge them by their character, and the fact that they have a job and need a home for their family.

So I would ask those of you that are in a position to give somebody a break, and a chance to start over, to consider doing so. I'm certainly not suggesting you should rent to anyone that comes down the pike, and criminal background checks are still a must, but a person shouldn't live and die by their FICO. Perhaps just ask to look through their foreclosure docs and get a feel for what happened to them, after all, they're not alone in this, it's happened to a lot of good people.  

Also, if you want a pet, go adopt one (I did), they could use a break too!

In the wake of the mortgage industry crises, we are all learning of the rampant fraud that pervaded the industry played a key role in its collapse. Many mortgagees have fallen victim to unscrupulous lender practices and dishonest mortgage officers. I have yet to encounter a worse case of repeated victimization than the one whom is the center of this story. For those victims that want to take legal action against anyone in the mortgage industry, read this story and take heed.

After time I started to wonder if they were reporting news, or creating it. It seems that they love doom and gloom. They decide what they want to happen, then report on it until it does happen; much like the way they report on Hollywood couples. They begin reporting the inevitability of marriage on the first date, then if they do get married, they then being writing about the inevitability of cheating, drug addiction, and divorce. It often appears they drive the couple to it by hounding them.

I saw a headline the other day "Brittney runs over mans foot!" Didn't seem important that their own photographers surrounded the car to the point one got his foot ran over as she backed out. They made that happen, and then made it into news.

I have the feeling that's what they have done to real estate. They pound out the doom and gloom stories based on national trends and convince Washingtonians they would be fools to buy a home now.

In the first true buyers market we've had in years, a time when there are bargains left and right and interest rates keep dropping, people are afraid to make a move. I see opportunities passed up daily simply because of what someone read in the paper, or saw on the news. It's really sad that they feel the need to drive the market into the ground because it makes good print.

Last year I had a client that was the victim of a Straw Mortgage scam artist. I handled the short sell on the property and in the process learned more about straw mortgages than I ever cared to. One thing that was clear, there is no shortage of homes that were sold in this manner. Typically they involve an inflated appraiser, an unscrupulous mortgage broker, and a very crooked closing agent (usually an attorney).

In the end obviously the home is "sold" for far more than it's worth (almost always a FSBO). Then a few months later the home is abandoned and foreclosed on. What was also apparent was that often comps were skewed by the presence of such homes in some areas. In one case I saw 2 such homes on one block, and the other homes for sale weren't selling because they were over priced. The prices were based on the sellers and agents belief that homes on the street were selling for far more than they actually had.

I've warned many clients that are licking their chops looking at the list of foreclosures to be careful. Just because there's a debt of 700k on the home and you may be able to get it for 80% of that, doesn't mean it's a deal. It may have only actually sold for 80% of that and the difference was pocketed. Often the seller was still paid more than it was worth (even at 80%) as an enticement to go along with the scam.

So in the end you're buying homes you can't preview, can't inspect, and have to pay cash for; for possibly more than it's worth. I'm certainly not saying most repossessed homes fall into this category, but one never knows. I tell them to look and see how long the owners had it before walking away; that can be a clue. This type of activity certainly played a role in the collapse of the mortgage industry.

I thought I had heard it all, but then a salesman tried to sell me fake grass (no, not the smokable kind). I sometimes wish I had bought it; especially when paying the bill for a certain chemical company to treat my lawn every six weeks. I don't even want to talk about the water bills for the months of May, June, and July or the weekends lost to cutting the grass and trimming the foliage.

These days if your lawn looks raggedy your neighbors give you the evil eye and the homeowner's association puts a nasty little note on your door, so you gotta pay to a bundle to have a lawn that looks like it should have a little flag on it. When I was a kid growing up under the hot Texas sun we never once watered or fertilized our lawn. It looked great during the cooler months and it baked to a nice golden brown in the summer. I rather enjoyed the crunchy sound it made when you walked on it.

I still daydream about calling that fella and buying that fake grass, especially when those bills come. I am curious though, who has this modern day Astro Turf in their yard? I've never run into it while showing homes, so I was curious if any of you had? Would it raise or hurt a homes value?

I wish it would catch on so I could jump on the band wagon; I could then slowly replace the trees and shrubbery with plastic versions. Maybe even put a few fake birds in the trees, and,...yes, even pipe in a sound track so you could hear the birds singing.

My own little plastic Utopia!

Lately I've seen some truly remarkable price reduction e-flyers landing in my email. They seem to tout the reduction as a great thing that should make my clients happy and eager to buy their home. I don't see it that way, and I feel these massive reductions are hurting all of us.

Obviously as agents many are being asked to list homes at absurd prices that do not accurately reflect the marketable value of the home at the time of the listing. I view it as seller's denial. Apparently some people out there feel they still hold a lottery ticket that will enable them to reap huge profits in a short amount of time. Because of that belief, they still want to list their homes at dream prices in hopes they can cash in on the sales frenzy of yesteryear.

All this has accomplished (because their certainly not getting those crazy prices) is that buyers out there are lead to believe the market is crashing. I recently received an email from a client that has been looking at homes and she said she wanted to wait until next year when prices have stopped tumbling downward. Her belief this was happening is based on the fact that homes she has viewed now reflect price reductions of up to $65,000 shortly after hitting the market. Also many homes that the MLS list as Sold are showing accepted offers 25k under asking and often more.

I really don't see this as a market crash, but more of a reality check. If you list a home, and then two weeks later drop the price sixty five thousand, then I suggest you listed it absurdly overpriced to begin with. I tell my clients if you put a crazy price on your house it will not sell, it's that simple.

I realize we can't control what people ask for their homes, but we can educate them, and when necessary decline the listing. We are doing them no favors by listing the home at a crazy price to appease them (knowing it won't sell), and then dropping the price drastically once they realize we were correct in our assessment. We are in fact creating an illusion of a market crash.

I recently had a client that wanted to list her home $50,000 more than it was actually worth.

I suggested we get an appraisal to support the price and she declined. She then went forward and listed it at an appropriate price. It hurts the entire market when we inflate the listing  price and then tumble it down in a couple of weeks; or do so knowing it will likely sell for an offer that's considerably less and more appropriate.

As you may have read in my previous Blog, the Nigerian 419 scam has invaded our very own realty market here in Washington State. This is a fairly sophisticated scam that many people have fallen for and lost thousands in the process. Any clients you may have that are intending to buy property for the purpose of renting it out needs to be aware of this situation.

One popular free advertising source known as Craiglist.com is a steady source of victims for the scam artist operating out of Nigeria and the UK. However, it's not uncommon for listings on the MLS to receive such offers as well. There are three groups involved in perpetrating the scam. The first bunch are known as the Yahoo Boys, and they are the ones that scour the web for email address regarding rental properties. They send out emails by the thousands in the hope a few will respond.

Once someone has they may pass it on to another scammer that's experienced in the art of reeling the victim in (2^nd level). All of this activity is watched over by the ring leaders (3^rd level) that actually monitor all of the email accounts to insure the "worker bees" are performing correctly, and if it appears one is dropping the ball they will pull him out and bring in another more experienced player.

The ringleaders collect the funds and actually pay commissions down the line to the boys that reeled them in. Many of the Yahoo Boys are college students and are given computers and promises of big money to participate; they view it as a job. It's not any different from Americas own drug dealers luring kids in to selling drugs for them. A great deal of this type of activity takes place in internet cafés, but often the kids are provided laptops and internet connections to work from home.

I recently ran an ad on craigslist.com to see if they were still working it. Craigslist has posted many warnings against responding to such solicitations and I was curious if the scammers had moved on to more fertile ground. They have not; I   received 16 such inquiries in one day to a simple ad offering a room for rent in Bellevue. I used a fictitious identity and a newly created email address. I'll use the emails from just one of them as an example. This particular scammer managed to have a check on my doorstep by the next day!

This is a common type of email sent in search of victims and is sent to dozens of people at a time (they are often poorly written):

First response to my ad offering a room for rent in my home:

_______________________________________________________________________________________________________

Hi ,
I am willing to rent a room or seek roommates who is nice and honest. My name is Helen and I am 28yrs, Single, never been married, I am originally from Harrisburg, PA but I am currently out of the United States, I should return back to the State, as soon as I am able to secure a room where I will stay.

I am honest, trustworthy and caring person, who enjoy making good friends, I dont smoke and I dont drink ( but I am not against it), my hobbies are traveling, and Singing, I go to a friends party, but I dont stay late at night.

I would have loved to come and look at the room, but I am not in the States yet, so I will trust you on what you tell me regards the room. I am currently working for GVI (GLOBAL VISION INTERNATIONAL) and I travel most times to the UK, I work as resercher on a construction Project/Research and Exploration Expedition.

I am moving back to the States. this very week, I have plans to staying back in the States, and look for a part-time job with my degree in Marketing, have thought about it carefully and I want to move to friendly city, where I can start my own life different from the one I have lived in the UK while working with my company GVI and the part-time job I will get any moment from now.
So I just want you to confirm the rent including utilities and if there is any deposit, whats the amount to move in all together? I am willing to stay for up to 8 months but I can move out during this 8 months if you want me to, as soon as I arrange payment for 2 months rent and deposit, when do I move in?

What is the closest international airport to the house? I will ask my company's associate in the US to send you a payment to cover for 2 months to confirm my willingness to occupy your space.

Please forward me your full details where you would want the payment be mailed to:

(Full Name)......
(Address):.....
(City, Zip Code):...
(Email):...
(Direct Phone):...

Thanks, I will be waiting for your details so I can proceed with the payment, I have also forwarded you my picture so you will know how I look.

Regards,

Helen
+44(0)7031817967

______________________________________________________________________________________________________

Once someone has responded and expresses interest in renting to the scammer, they will receive this (already calling themselves your roommate), the "private email address" is actually the pass-off to the more experienced con artist.

______________________________________________________________________________________________________

Hi Michelle,

How are you doing, This is Helen, your roommate, this is my private email address............. carterplp@yahoo.com, I have forwarded your details and I am looking forward to meet you, so the payment of the room will get to you by Wednesday-Thursday due to the postal system, as soon as you get it do not hesitate to contact me so I can proceed with my flight. I will also need your phone number just in case I want to reach you.

My company associate in the States has issued a cashier's check to cover for the rent and my expenses during my trip to the states, as soon as you get it, deduct your rent for 2 months including deposit and forward the remaining funds to my traveling Agent, through Western Union so I can use it to get my flight ticket. I will be buying a used car when I arrive, I will appreciate it if you can help me remove your ads from the internet so I will be assured that I am the only one contacting you regards the room. do you have YAHOO or MSN instant messenger so we can also talk for free on yahoo, my yahoo chat ID is: carterplp@yahoo.com.

Thanks, I cant wait to meet you in person, I will forward you the tracking number of the package(payment)

Your future roommate,
Helen

_______________________________________________________________________________________________________

After a bit of small talk you will receive this email:

_____________________________________________________________________________________________________

Hi Misha,

How are you doing?, I am happy that you will get the payment today, the UPS tracking number is (J2080425169), you can go to http://www.ups.com/USto track the package. I was informed that the $4550 was mailed to you to cover for my rent and my flight ticket to the US, as soon as you get it, go and deposit it in your account, you will help me transfer the balance of $2400 to my traveling agent who is in charge of my flight directly, while the remaining funds will be used towards my rent and utilities. I will be flying on either KLM or British Airways, since I am a member, but will forward you my flight details as soon as it has been scheduled.

Below is my traveling agent's info where you will transfer my ticket funds to, through Western Union Money Transfer, you only need the Agent's Name and City, Zip and country to transfer funds using Western Union Money Transfer.

(Name): TIMOTHY MONTOYA

(City)Port Washington

(State)WI.

(Zip) 53074

I will be expecting the following info from you as soon as you send the funds, I am aware that the Western Union Agent will charge you for sending fee, please use out of the funds to pay the tranfer fee, I will need the info as follows:

(1)Exact Amount Sent(after deducting the transfer charges):................
(2)Senders Name and Address:...........
(3)Money Control Number/Reference Number(MTCN):.........

Please, do make sure the funds are sent same day you get the payment so I can get my ticket on Friday and fly on Saturday, that reminds me, how do I get the keys to the room, will you be available to pick me up on Thursday???.
Thanks, I awaits the Western Union Details.

Regards,
Helen

______________________________________________________________________________________________________

Then the sense of urgency begins and often you will receive several emails in rapid succession: 

_______________________________________________________________________________________

Hello Misha,

How are you doing, I just got your message, please make sure the funds are wired today, Saturday is my flight, I want to be able to schedule a flight tomorrow, did you get my traveling agent's info?

Thanks, looking forward to meet you.

Helen

____________________________________________________________________________________________________

Hello Michelle,

How are you doing, did you get the payment yet, I tracked it and it has been delivered at the front door of your room, so please I will need your swift response ok, I cant wait to meet you, will you be able to pick me up at the airport?

Thanks, will be waiting for the Western Union Details.

Helen

______________________________________________________________________________________________________

Because I like to see how they deal different objections I send various responses, this is one I used:  

______________________________________________________________________________________________________

Me: Yes, it was there when I got home from school today but it was too late to go to the bank. I talked to my mom today cause I was real excited about you coming here, and she thinks it's a great thing. She did suggest though that I wait until the check clears with the bank before sending any funds to you. I'll have to ask the bank how many days it takes to clear completely, hope that's not a problem luv. I'm really excited about your coming here and I know we're going to be the best of friends! 

Scammer: Hello Misha, How are you doing, I am really excited at the thought of meeting you, I can see that you are nice and honest, I am the same kind of person, I cant wait to meet you, please the bank might want to put 2-3days on it, I wont be able to wait for that long.

I am asking you, if there is anything we can do so I can get my flight, or if there is a way you can borrow money for me and as soon as it clears, we will replace it back. Can we exchange pictures?

Helen

Me: I maybe could borrow some money from my student loan account, but that's about all the money that's in it. If for some reason I couldn't pay it back I wouldn't be able to pay for next semester and I would not be able to attend classes. My mom would just kill me! What's your flight number and departure time?

Scammer: Hello Misha, I really appreciate what you are doing to me, I promise to be the best fried you ever have, please, maybe we shouldnt tell your mom about it, so when the check clears, we can return it back, my flight is Saturday 6pm, I will need to pay my traveling agent before I can get a confirmation for my flight. ok.

Please, I will appreciate it if you can wire the money to my traveling agent today or early tomorrow, It is certain we will replace it back ok. Thanks. Looking forward to meet you

Helen

Me: I do feel like I've known you all my life, and I'm certain I can trust you. Maybe when I go to the bank I should just explain the urgency of the situation and they can call the bank that issued the check to confirm it's good. I'll bet that would solve our problem! What do you think? I hate to lie to my poor mother, she's been really sick with cancer and all and she doesn't feel good. Wouldn't it be better to just ask the bank to help us out? 

Scammer:  Hello Misha, I understand, I wouldn't want you to lie as well, there is nothing the bank can do because it is a policy they must follow, let just see how many days they will ask use to wait then. Thanks, looking forward to meet you.

Helen

(After this email, a more experienced scammer came in. This one was dropping the ball)

Me: Gee thanks, that's a good idea. I knew you would be understanding of the situation. I actually forgot where you're flying from! I see your travel agent is here in the US, did you used to live in that State? I'm still so excited knowing your coming so soon, the weathers still pretty nice so we can spend a little time going downtown and eating at all the beautiful restaurants. What's your favorite kinda food Helen! 

Scammer: Hello Misha, How are you doing, I am exicted about meeting you as well, yes I use to live in Harrisburg, PA and Wi but thats a long time, I am originally from PA. I like lights food, yes we could go out and have a nice time.

Helen

Me: Where are you now, are you in England? I've always wanted to go there! What do you do for work?? I want to be a Hotel Manager, or maybe work on one of those big cruise ships after I graduate. Did you go to college in Harrisburg? You mentioned earlier we could exchange pictures; I don't remember if I ever sent you any or not, so I'll go ahead and attach a few for you now. 

Scammer: How are you doing? I just got your email, I want to know if i can borrow some little funds from you, any amount you have, I will appreciate it. I WANT T RAISE SOME MONEY TO BUY MY FLIGHT BEFORE THE CHECK CLEARS, the days the bank asked you to come seems like a year to me, I will be waiting for your swift response.

miss ya

Helen

Me: How much do you need to borrow sweety? I don't think it will be a big problem. Can you possibly send me a scan of your photo identification, like a driver's license, or school ID? Then I at least know exactly who I'm making the loan too. 

Scammer: Hello Misha, how are you doing? I just got your email, I cant believe you are asking me for these just because I ask you to borrow me some money, I dont have a scanner to scan what you have asked me to send to you.

But, I want you to know that I am an honest person, I cant borrow what I will not pay for, it is very urgent thats the reason why I turned to you for assistance, we are now friends, I can assist you if you want me to as well.....

Please there is no way I can send all this, since I dont have a scanner, I want to believe you trust me right? Please........

Helen

Me: Well, shoot, don't they have places that can scan for you? Oh, wait, I know. Maybe you can just take a picture of it and send that! I would at least like pictures of you or something, I know we're friends and all but I've never even seen you. Plus, you didn't say how much you want me to loan you. I only have about $5,000 in my college loan account that I'm supposed to use for school next semester, if I sent you that I would really need to be sure your going to pay me. If I lose my college money I can't return to school for half a year, and my mothers so sick with cancer I know it would just kill her if I wasn't in school.

It's not that I don't trust you hon, but the check didn't come from you, it came from another person. I have no idea who that person is. What if they cheated you and me both? What should we do Helen???

Scammer: Hello Misha, I just got your email and I believe you, I wouldnt want you to risk anything for your college ok, I will have to wait till the check clears then, I just hope it wont take more than 3day (scammers know the funds are available after 3 days, although the check hasn't cleared), but what I was acutally going to borrow from is $1000 and not $5000, I was just thinking I could be in the State by this new week, so we can visit alot of places together, I am really excited about meeting you, and I know you will make a good friend. I wish you could borrow just the $1000 before noon tomorrow, I would appreciate it, that means I will still be able to fly later in the evening on Saturday.

How is your parents doing, I hope she is using her treatment, where di she travel to? would you like to visit the UK in your holidays? we cna go together and stay in my house here in London.

Thanks, will be waiting for your email.

Helen

Me: So sorry I just got your message Helen, I went to my best friend's birthday party (see pic) and we had such a good time. I really wish you could have been there. As for your question, $1,000 doesn't seem so bad; it is a lot of money to me so please realize that even losing that amount would dramatically affect my life.

The banks aren't open tomorrow though Helen, so I can't do it until Monday. You really have to swear to me though, if the check your friend sent for any reason doesn't clear (which it can't in 3 days, it takes over a week), you will pay me when you get here.

Surely you understand that even losing a thousand dollars would mean I can't continue my education, and when my mother returns from France from her cancer treatment, the last thing in the whole world I want to do is break her heart and tell her I lost my school money and had to drop out. I think I would rather kill myself than do that.

So please, you must promise me on the Holy Bible you will make good on the loan if the check isn't good. Do you promise??

Love you always,

Scammer: Hi Misha, How are you doing, I just got your email, yes I realized that alot of things is at stake if you have to borrow me the money, I promise to give you back if anything happens to the check ok, but I bet you nothing is going to happen, because this is my pay check, and no one will want to send me a bad payment, but I promise to give you back the funds if anything happens ok..... trust me on this.

Regards the party, I saw the pic, I just wished I was there with you, at least thats another avenue where we can spend time together and get to know ourselves better, right now it is as if I have known you for years, the understanding is just too perfect.
I cant wait to be there so we can go to other occasions like that, we could even visit London together during your hols in school. Please, do make sure the funds are wired early on Monday, try and do everything very early on Monday, I will really appreciate it.....I promise to pay you back in a very big way!

Thanks, looking forward to meet you.
Helen

(As you can see, the scammer is finding humor in ripping her off when he say's "I promise to pay you back in a very big way!")

Me: How much of my school money should I send? What do you need for your trip? I've seen those pics before, is that all you have?

Scammer: Hello Misha,

How are you doing today, sorry I have not been online for sometime now, I have been busy putting my things in place for my trip. I would have appreciate $1500, but I am not sure you would be able to do that? if it is possible help me with $1500, and if you think $1000 is ok, then try and send it to me very early Monday morning ok.

Please, it is Monday here and the time is 4:56am, I will be coming back to check my email for the Western Union Details ok.

 I hope you still remember my agent's info:

(Name): TIMOTHY MONTOYA

(City)      Port Washington

(State)    WI.

(Zip)       53074

I will be expecting the following info from you as soon as you send the funds, I am aware that the Western Union Agent will charge you for sending fee, please use out of the funds to pay the transfer fee, I will need the info as follows:

(1) Exact Amount Sent (after deducting the transfer charges):................
(2) Senders Name and Address:...........
(3) Money Control Number/Reference Number (MTCN):.........

I am looking forward to meet you Misha, I cant wait for us to paint the city with beautiful colors together.

Helen

Me: Thank for all your patience, I spoke with the bank and they said the money was available for withdrawal so I've sent $2,515.00 early this morning. The MCN number they gave me was 289-609-5468. Take care and be sure to get back to me with your flight information!

Now obviously I sent no money and the number is fictitious; often I'll send them to the WU several times attempting to collect, and sometimes I even send them a doctored receipt from Western Union to convince them it was indeed sent. On one such occasion the scammer went to Western Unions office with the fictitious receipt so many times the police were waiting for him when he came the 4^th time to collect and his associates emails me asking me to help get him out of jail! He was quite upset and said "Our Minister of Finance" has been arrested!" that made my day.

The two things people have said to me in the past regarding these scams is that:

1. Anyone getting pulled into such a scam is being greedy and trying to get something for nothing, therefore they deserve what they got!
2. The Nigerians are so poor they're simply acting in desperation and trying to find a better life.

I don't really believe either are true 100% of the time. As you can see by this email exchange, this person I fabricated was merely trying to rent out a room, and for a fair price. It wasn't part of a "Help me sneak 45 million of a deceased persons bank account and I'll split it with you" scam (although that is a common scheme); so honest hard working people are victimized by these scams.

I intentionally said all I could to see if the scammer had any sympathy at all. In the end, it didn't matter how sweet and innocent Misha sounded, that she would not be able to pay for college once the scam was complete, or that her mother was gravely ill. The scammer had no qualms getting her to take her college money and send it and instructed her to keep it a secret from her ailing mother.

I also wanted to show how they befriend the victim and prey on many lonely people. The young and elderly are common victims. I recently saw a young man on TV that simply wanted to sell his motorcycle. He was contacted by a man from overseas and sent a check for more than the amount due. He was then contacted by the "shipper" and asks to wire money so that they would pick the bike up and ship it out. He lost over $3,000 and now has to work 3 jobs to repay the bank or face criminal charges. He wasn't trying to get rich quick, just sell his bike.

I spoke with a Realtor last week that said she had in fact rented a home to someone that contacted her via the web and rented the home prior to arriving from Canada. They did send her a cashier's check, but they did not ask for money back; it was a legitimate deal. So it's not hard for someone to believe that it is legitimate since on occasion people do rent rooms in this manner. Then when the bank permits them to withdraw the money from the account based on the check being deposited, many believe that indicates it has cleared, when in fact it has not.

As for the Nigerians impoverished condition driving them to do this, that's not quite true. The bulk of the profits are going to the ringleaders and they have made billions. The Yahoo Boys are paid nominal commissions for their success. Many consider it a game, as this popular song indicates.  It's called "I Go Chop Your Dollar" and has lyrics such as this:

"419 is just a game. You are the loser, I am the winner. White people greedy.... I take your money and disappear.... You be the fool, I be the master."

The losses from this scam are in the billions! On August 6^th 2007 the EEOC (Economic and Financial Crimes Commission) ran a sting operation in Nigeria and confiscated outbound mail for the US and UK. The operation produced startling discoveries of how criminal elements operating from the country ship fake documents and counterfeit financial instruments abroad. In several packages they found fraudulent identification and counterfeit financial instruments neatly concealed in carbon paper to evade the sensors of scanners.

In all, 15,129 counterfeit checks related to advance fee fraud scams were intercepted. They included 6,948 blank checks and others drawn for the sums of $145.9 million, Euro 211,077, 218.00, over two million Pounds Sterling and 120,450.00 Canadian dollars. So this is a major problem that shouldn't be ignored and written off as "something that happens to greedy fools".

In playing along with their scam and allowing them to send the check, only to realize they have wasted their time and money in doing so and perhaps makes them more leery of who they send the checks to. I've noticed that some of the ads I place on Craigslist receive no response. The Yahoo Boys have private websites where they post messages to one another regarding their own bad experience with victims and who to avoid.

I hope that in doing this I make them more leery of any ads for Washington State property rentals. I'm not crazy enough to believe I can end it, but as I said before, if I can just save a few from this scam it's worth my time. I haven't taken as much time or effort as it may seem; I often do it when I'm bored or need a break. Also, I can't lie; it's a bit fun at times.