Shawn Murray ~ Omaha NE RE/MAX The Producers 402-250-7869

Here is another article that I found on RE/MAXmain Street that we all need to be aware of. Do not let you clients be a victim of this scam.

Loan Scam Uses RE/MAX Name to Dupe Consumers

By Deborah Ball, RE/MAX Times Associate Editor

CONSUMERS, BEWARE: Bogus ads touting advance fee loans like this one have appeared in some local U.S. newspapers from a fake company called "Remax Financial." It is not affiliated with RE/MAX International or RE/MAX brokerages.

A fake company is using the RE/MAX name to scam consumers for loans - and RE/MAX International asks you to be on the alert for suspicious activity.

The purported company,"Remax Financial," has been advertising advance fee loans in local newspapers in Illinois, Iowa, Georgia and other states since December.

According to a fraud alert on advance fee loans by Illinois Attorney General Lisa Madigan, "Charging advance fees for a loan is illegal: companies cannot ask you to pay for a loan before the loan is made." Not only did the company use the RE/MAX name in its illegal activity, it also apparently collected money from unwitting consumers who fell victim to the loan scam.

RE/MAX International sued "Remax Financial," which is not in any way affiliated with RE/MAX International or any of its real estate brokerages, for trademark infringement and dilution, unfair competition and cybersquatting, in a complaint filed in the U.S. District Court for the Northern District of Illinois in February.

"People wonder why someone would choose the RE/MAX name to perpetuate something like this when they might stay under the radar longer without it," says Adam Scoville, Senior Counsel for brand protection at RE/MAX International. "The answer is simple: Consumers are more likely to trust a famous brand. The benefit the scammers receive from exploiting 'Remax' in the short term outweighs the eventuality that we will get them shut down."

In its ads, "Remax Financial" directed borrowers to a toll-free phone number, (866) 398-3670. After RE/MAX International contacted the company responsible for leasing the number, it was briefly disconnected, but has since been reactivated. No one answers the line, but a voice message thanks callers for contacting RE/MAX and requests that they leave a message.

"Remax Financial" also operated a Web site - remaxf.com - to advertise its illegal loan services. The domain was registered through a privacy service, but before suing, RE/MAX International was able to learn that the domain name registrant is a "Peter Shield," who allegedly lives in Toronto. It appears, however, the name is a fictitious alias. RE/MAX International was also successful in having the Web site taken down by the web host.

Several people complained about the scam to the Chicago Better Business Bureau, which notified RE/MAX International of the activity. Other consumers aired their run-in with the fake company on consumer fraud Web sites - some claimed they lost thousands of dollars in the scam and warned others not to do business with "Remax Financial."

"We rely on RE/MAX affiliates as our eyes and ears," Scoville says. "When we recently learned the phone number was being re-activated, we also learned that 'Remax Financial' may resume its advertising, which appears in neighborhood papers, free weeklies and papers targeting particular communities.

If you see ads from this fictitious company or hear clients talk about suspicious encounters, please contact the trademark team in RE/MAX International's Legal Department by e-mailing trademark@remax.net.

Visit the RE/MAX Times Online every week to read new feature articles, top-producer profiles, stories about valuable resources and more.

Plese do not let the media get you down. All I am hearing now is that the presidents plan will not work because we are spending too much money. I consider myself a Republican, but I can not say that the last 8 years have been good for the US economy. Let's give the new administration a chance to prove them selves. Lets all try to work together to bring this Great Nation back to what it was.

Buyers be kind to your real estate agent. The information that comes out of our mouths is data that you can use to your advantage. We are looking out for your best interest. When we tell you that this home will probably not last on the market very long, please believe us. I have been running into situations where my clients want to think about it. I always inform them that the other people who saw it last night have already thought about & if this home is what meets your needs & wants lets get it o paper. I have had so many buyers in the last month miss out on a great home that they get frustrated with the system & at times with me. I'm sorry, I am here to help & educate you in your decision. The move is yours.

I just first wanted to say that selling real estate is the best career I have ever had. Sure there are ups and downs associated with the business but, you have to hang in there. Here is an example fo what recently happened to me. I had been working with a mortgage lender in helping some very nice people reestabish there credit. They had just recieved word that they were approved for the loan when I recieved a phone call. She was very sad that we had gone to all the work to find out that her husband was laid off. I told her that she needed to focus on her family first and that we would get over this bump in the road. I contiued to contact her on a monthly basis to see how everything was going for about 5 months. She called me yesterday to tell me that her husband had been called back to work & that he also got a huge pay raise. So hang in their with your clients.

Do not let them get you down. Give me a call at 402-250-7869 so that I can help.

Shawn Murray with RE/MAX The Producers Omaha NE, 68144