61传媒

In the Media: Stacey Wood Discusses Home-Buying Scams in NextAdvisor

Portrait of Stacey Wood, Molly Mason Jones Chair in Psychology and professor of psychology at 61传媒 in Claremont, California

Stacey Wood, Molly Mason Jones Chair in Psychology and professor of psychology, the prevalence of home-buying solicitation scams with NextAdvisor, a financial advice publication produced in partnership with TIME magazine. Wood has seen a number of these scams in her investigations of elder abuse and exploitation cases. Many of these scams, she explains, target homeowners who aren’t aware what their homes are worth, offering a purchase price that’s under value. She urges homeowners to be wary of buyers who want to purchase a home that isn’t already on the market. “There鈥檚 such demand in my town for housing stock that the only reason I would consider a [for] sale by owner is to make more money, not to make less,” she says.

Tags