Scammer Target Homeowners Through A Home Improvement Loan Program – CBS Miami

CORAL GABLES (CBSMiami) – A fraud warning to homeowners via the PACE home improvement program.

The program allows you to finance the upfront cost of repairs and then pay them back over time. But what if you find out that someone has taken out this loan on your behalf without your knowledge. That’s what a homeowner said happened to her.

CONTINUE READING: Florida Governor Ron DeSantis Unveils Gas Tax Relief Plan

“It felt like I was financially raped, that’s what it felt like,” said Coral Gables homeowner Mildred Carlo.
She recently became the victim of scammers who took out a PACE construction loan on her property without her knowledge.

“I felt like someone totally hurt me. I was a single mother, I had worked very hard all my life, worked so hard that I didn’t have a mortgage on my house, ”said Carlo.

But the $ 18,500 loan, taken out without Carlos’ permission, threatened her desire to keep her family out of debt. The money from the loan would have gone directly to a contractor and, according to the loan documents, was intended for work on their air conditioning.

Credit specialist Jean-Pierre Paul said that this type of loan was originally intended to help homeowners get the job done without refinancing or withdrawing equity.

CONTINUE READING: AAA: High gasoline prices aren’t something motorists are grateful for for this Thanksgiving Day

“They would take out a PACE loan, say for windows or roof or air conditioning or whatever, they wouldn’t have to deposit the front money and then the loan would be paid back through their property taxes,” Paul said.

Lawyer David Winker believes that if Carlo hadn’t come home earlier and intercepted the package containing the loan details, she wouldn’t have found out until it was too late

“If someone who didn’t look carefully at their tax bill hadn’t noticed, even if taxes were going up, my taxes are a little higher than usual, but then you’d have found out, so be it. “Concerning,” said Winker.

Winker adds that security precautions must be taken to prevent other homeowners from becoming victims, which Carlo repeats.

MORE NEWS: “Tiger King” Joe Exotic transferred to North Carolina prison after diagnosed with cancer

“If I hadn’t got home earlier, whoever was doing this scam would have come over and picked up the envelope and I wouldn’t even have known until I got my tax bill. I just want people to know that there are people who do that, houses that are lost because of things like that, ”said Carlo.

Comments are closed.