Commentary: Real Estate Scams Are on the Rise as the Housing Market Remains Hot

When Jeff, a retired marketing consultant from Chicago, was closing on his home sale, he received a new set of instructions at the last minute on where to send several thousand dollars in closing expenses. At first blush, the email looked legit with an official-looking logo and professional language specifying the amount owed and itemized expenses. But one thing caught his eye: The email address looked strange. Just to be safe, he called his mortgage broker.

“Don’t do that!” his broker told him in an alarmed voice. It was a scam. If he hit “send,” his closing fees would go to a thief who had been monitoring his emails. “I was a keystroke away from losing thousands of dollars,” Jeff recalled.

As the housing market sizzles across the country – with nearly 6 million homes bought last year – scammers have been finding new ways to tap into this once-secure market. Real estate transactions still demand reams of paperwork and regulations involving lawyers, brokers, title insurance companies and banks, but the fact that much of this work now takes place online gives thieves countless opportunities to exploit vulnerable buyers. Last year, more than 11,000 homeowners were scammed out of more than $220 million in closing funds alone, according to the American Land and Title Association, a trade group that represents professionals who perform property transactions.

Read More

School-Choice Advocates Applaud Ohio Senate’s Budget Plan

Matt Dolan

School-choice advocates are calling the recently passed Ohio Senate budget proposal as a step in the direction toward more options for parents.

The Senate’s version of the budget includes differences negotiators still must work out with the House’s budget, but it includes a provision that allows parents to create an education savings account for afterschool care. Negotiations begin this week.

“While the new Afterschool Child Enrichment Education Savings Account program is limited, its inclusion in the budget is an important step in helping parents afford desperately-needed resources giving them the flexibility necessary to improve their children’s educational outcomes,” said Rea Hederman, executive director of the Economic Research Center at The Buckeye Institute, a Columbus-based think tank.

Read More

Kenneth Blackwell Commentary: Bernie and AOC Will Destroy Low-Income Americans with Their New ‘Banking Solutions’

by Kenneth Blackwell   If you like unnecessarily long lines, surly clerks, and terrible service, then you’re probably going to love the latest idea to come from the fevered minds of some of the most radical Democrats in Congress. Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez, both of whom identify…

Read More