Marlie Lin 6/23/23 Marlie Lin 6/23/23

Interested in Auto Financing?

Learn more about sources of auto financing

While some consumers are able to pay cash for their new vehicle, most buyers use financing. Understanding your choices and the loan process will help you save money. Banks, credit unions, and nonbank auto finance companies You can get pre-approved for your auto loan before selecting a vehicle. Check out banks, credit unions, and other lenders. You usually don’t have to have an account with the bank or other lenders to get a pre-approval. Generally, you do need to be or become a member of a credit union in order to apply for an auto loan. The pre-approval will give you a loan quote with an interest rate, loan length, and maximum loan amount based on factors such as your creditworthiness, the terms of the loan, and the type of vehicle you have in mind. The rate you are offered may be negotiable. This quote allows you to compare different lenders’ offers against each other, giving you a stronger hand in negotiations. Lenders and dealers are not required to offer the best interest rates available. You may be able to save a lot of money over the life of the loan by negotiating the interest rate. Dealer-arranged financing With dealer-arranged financing, you obtain financing from a lender through a dealership. The dealer collects information from you and forwards that information to one or more prospective auto lenders. If the lender(s) agrees to finance your loan, they may authorize or quote a rate to the dealer, referred to as the “buy rate.” The interest rate that you negotiate with the dealer may be higher than the “buy rate” because it may include an amount that compensates the dealer for handling the financing. Dealers may have the discretion to charge you more than the buy rate they receive from a lender, so you may be able to negotiate the interest rate the dealer quotes to you. Ask or negotiate for a loan with better terms. After the auto purchase is finalized, a dealer-arranged loan may then be sold to a lender who has already indicated a willingness to extend the credit. That lender may own your loan and collect the monthly payments, or transfer those responsibilities and rights to other companies.

Buy Here Pay Here dealership financing

Some types of dealerships finance auto loans “in-house” to borrowers with no credit or poor credit. At Buy Here Pay Here dealerships, you might see signs with messages like “No Credit, No Problem!” The interest rate on these loans can be higher. You may want to consider if the cost of the loan outweighs the benefit of buying the vehicle.

Even if you have poor or no credit, it may be worth seeing if there is a bank, credit union, other lenders, or another dealer that is willing to make a loan to you.

A lender cannot discourage or deny your application for credit, or offer different prices or other terms and conditions of the loan, based on your race, color, religion, national origin, sex, marital status, age, receipt of public assistance income, or good faith exercise of any right under the Consumer Credit Protection Act.

Marlie Lin 6/16/23 Marlie Lin 6/16/23

Free trials? Think Again!

Free trials can be tempting but they are rarely truly free. Most come with a catch or hidden cost. In order to sign up for most free trials, you’ll need to provide your credit card information. If you don’t cancel a “free” trial on time, you could be charged for a full subscription. Some businesses will make it difficult to cancel the subscriptions and continue charging you monthly. If you do sign up for one of these trials, make sure to read the fine print and make a note in your calendar when to cancel. If you can’t cancel, ask your credit card company to stop the payments.

Free trials could require you pay a small shipping and handling fee. This in itself already makes the trial not free. After the trial ends, you may see higher charges on your credit card, or charges for products you didn’t order or want.

Before signing up for a free trial, make sure you know exactly what you’re agreeing to, the length of the trial period, how to cancel, and the deadline to cancel. If you can’t find this information, do not sign up. Research the company online and read what other people say about their free trial offers. Compare reviews from a few different websites, as some website opinions might be skewed or biased. Search for the company name and the words “scam” or “complaint” to learn more about the company and how they handle disputes.

Watch out for pre-checked boxes when signing up for a free trial. These could give the company permission to share your information, continue charging you past the free trial, or sign you up for additional subscriptions that you must pay for. Uncheck any boxes you do not agree with.

If your subscription auto-renews, the company must send you a renewal notice. These aren’t bills or invoices, so credit card or payment information should not be requested. The notice should simply let you know when the renewal will occur and the cost. Make sure this is the cost you expected as you may have been on a promotional rate before. If you do not agree with the new rate, call the company to see if they can lower the price or cancel the subscription.

Marlie Lin 6/9/23 Marlie Lin 6/9/23

Homestead Act

If you are a homeowner in Massachusetts, the Homestead law can protect your home from creditors. The homestead law in MA is M.G.L. c. 188, which states that your home is protected only if:

You live in the house or plan to live in the house
The house is or will be your “primary residence”, which is where you live most of the time
Manufactured and mobile homes also are protected under this law.

This law does not protect your home from “secured” loans where you’ve agreed to use your home as collateral. For example, a mortgage is a secured loan of this type. The homestead law cannot stop a mortgage lending company from foreclosing on your home for missed payments.

A judge’s final decision in a case against you can decide how much you must repay creditors. The creditors can take some of your assets, such as bank accounts and cars. You can keep some assets protected from creditors that are “exempt.”

Marlie Lin 6/2/23 Marlie Lin 6/2/23

Let's Talk Insurance

You should reevaluate your insurance needs regularly, such as every year. There are many different options to consider, such as life, auto, home, and health insurance, to name a few. Insurance ensures that you will be ready for life’s unexpected mishaps. In Massachusetts, the Department of Insurance (DOI) regulates the insurance industry and the protection they provide.

When purchasing insurance, make sure it provides the proper coverage for your needs. There are insurance terms you should understand, such as deductible, exclusion, or underwriting, before enrolling. To operate in Massachusetts, the insurance company or agent must be licensed by the Division of Insurance. You can check with the DOI to verify their information.

You should always read through your policy and understand all the terms and conditions before signing. This policy is a legally binding contract, so it’s important that everything written within is agreeable and suitable for your needs. The insurance company or agent can help guide you in choosing an insurance product but it is ultimately up to you to choose the appropriate coverage and policy for your needs.

Shop around for insurance and compare rates. The Department of Insurance promotes a healthy marketplace for insurance, responsive to the consumer base. This allows consumers to get multiple competitive quotes from insurance agencies and review their coverage prior to purchasing.

Always keep a copy of the documentation and policy statements associated with your insurance. In the event that the insurance company does not honor something they’ve promised to you, these documents can help persuade the company to keep by their original terms. If possible, get all quotes, offers, and other information in writing.

The Department of Insurance also accepts consumer complaints against licensed insurance companies and agents. The DOI can attempt to resolve complaints but will not provide advice, recommendations, or suggestions in regard to selecting an insurance company or agent.

Marlie Lin 5/26/23 Marlie Lin 5/26/23

Don't Believe Everything on Social Media

Scams originating from social media have dramatically risen in the last few years. In 2021, more than 95,000 people reported losses of about $770 million just from social media scams. This accounts for approximately 25% of all reported fraud losses for 2021. This massive loss is eight times as much as the social media scams from 2017.

Some facts to consider for these reports:

• People who are getting ripped off might not be who you think they are. Although the reports are increasing for every age group, people between 18 to 39 years old were more than twice as likely to fall victim to social media scams than older adults.

• Deceptive ads inflict substantial consumer injury. Approximately 45% of all social media scams were initiated by deceptive ads on social media. About 70% of these reports involved items purchased but never received. Some of the deceptive ads on social media were reported to masquerade as established and legitimate online retailers.

• Investment scams accounted for big money losses with one payment method emerging as a favorite among fraudsters. About 18% of all social media scams were related to investments but accounted for 37% of the total dollar losses. Out of the reports that mentioned the form of payment, cryptocurrency was used in 64% of these scams.

This is concerning as legitimate businesses advertise on social media alongside these scammers. Consumers may be deterred to trust social media advertising after falling victim to these scams.

Marlie Lin 5/20/23 Marlie Lin 5/20/23

Consolidating Debt Could Boost Your Score

According to a study conducted by LendingTree, consolidating credit card debt can help increase your credit score. The study found people who consolidated at least $5,000.00 saw an increase of 38 points on average within a month. The study also concluded that the overall amount of debt you pay off with a personal loan is directly correlated with the amount your credit score will increase. For example, if you paid off $10,000 in credit card debt, your score will go up an average of 49 points. If you only paid off $1,000 to $5,000, your score will only go up 17 points on average.

Consolidating your debt can help simplify your finances. Instead of paying off multiple lenders, you'll be making a single payment. This can also lower the interest rates you'll have to pay on the loans. In general, credit cards carry a high interest rate as this is considered an unsecured line of credit. Personal loans are secured and offer much lower interest rates that can result in thousands saved at the end of the loan.

A higher credit score can boost your chances of obtaining that apartment / house you were looking at, and lower your insurance premiums.

Possible Issues To Look Out For

You may encounter some obstacles if you decide to take this route. A debt consolidation loan is usually for people with lower credit (629 or lower) and may have higher interest rates. A balance transfer on the card may give lower interest rates but is typically for people with a FICO score of 690 or higher.

Make sure you understand the terms and conditions of your new loan. If you missed a payment during a promotional period, you may have to pay an even higher interest rate than your original loan. A missed payment could also tack on additional late fees and negatively impact your credit score.

Reminder

Always make sure that the new monthly payments of your loan can fit within your budget for the entire repayment period.

Shop for the best loans at your local credit unions, banks, and even some online lenders. You must be a member to obtain the loan from the credit union but they tend to offer lower interest rates. Banks will favor existing customers with good or excellent credit scores. Online lenders cater to all credit brackets. Just make sure the interest rate you will be paying is lower than your current combined interest rates.

Marlie Lin 5/12/23 Marlie Lin 5/12/23

Don't Fall for FAFSA Fees!

As students are preparing to head off to college in the fall, many will turn to the Free Application for Federal Student Aid (FAFSA) and other forms of financial aid to help pay for tuition and other expenses. This could also leave students vulnerable if they don't know what scams to look out for.

There are many free services online to guide you through the financial aid process. Organizations looking to scam you could charge fees for "expert" advice on researching financial aid options. They might also guarantee they're able to find more financial aid than otherwise possible. Fraudulent loan servicers may charge a fee to assist with grant applications or loan consolidation, which the government-approved loan officers do for free. There are also websites that charge fees for FAFSA application support.

More information regarding financial aid is available at https:// studentaid.ed.gov/sa/types.

Filling out the FAFSA is always free, and you should never share your FAFSA ID. If you're using a website to fill the application, make sure the link ends in “.gov”.

Marlie Lin 5/5/23 Marlie Lin 5/5/23

Timeshare Tips: Getting Out

People on vacation sometimes end up at high-pressure presentations and end up purchasing a timeshare, only to regret it later. The maintenance fees are too high, or perhaps they don’t want to spend summer after summer at the same location. With inflation on the rise, discretionary spending funds are down and people are looking for ways to cut. Although laws vary state by state regarding timeshares, there should be ways to get out of your timeshare contract, according to Lisa Schreiber of The Timeshare Crusader.

“I advise anyone looking to get out of a timeshare contract to first contact the developer to see what, if anything, they’ll do,” says Schreier. “If that fails, contact a timeshare savvy attorney, not one of a myriad of self-proclaimed exit companies.”

The structure of timeshares has been changing since the 1980s, making them a little easier to get out of according to Robert Persichitte, a financial planner from Delagify Financial. “In the past, timeshares were commonly tied to a single property,” Persichitte said. “Suppose that property was expensive to maintain, like many mountain properties or beach properties in hurricane-prone areas. As an owner, you generally have a financial obligation to pay for repairs. On the other hand, modern timeshares are connected with multiple properties and act more like a pooled vacation fund. These generally don't have a big financial burden, making them easier to walk away from.”

There are other options besides canceling the timeshare contract. Some developers let their timeshare owners advertise and rent out their units. There are companies specializing in renting out timeshares. “For most clients, it makes sense to sell a timeshare rather than surrender or cancel it,” Persichitte said. Renting a timeshare could take a while, with one case taking over three years to find a renter.People on vacation sometimes end up at high-pressure presentations and end up purchasing a timeshare, only to regret it later. The maintenance fees are too high, or perhaps they don’t want to spend summer after summer at the same location. With inflation on the rise, discretionary spending funds are down and people are looking for ways to cut. Although laws vary state by state regarding timeshares, there should be ways to get out of your timeshare contract, according to Lisa Schreiber of The Timeshare Crusader.

Marlie Lin 4/28/23 Marlie Lin 4/28/23

Personal Finance 101

Many Americans live paycheck to paycheck according to surveys throughout the years. There are even more as the economy slows down. It’s Financial Literacy Month, so we’ll go through some tips to stop the cycle.

If you are just starting your journey of financial literacy, you should always take an account of how much money you have coming in and going out. Account for all of your spending and this will help highlight where you’re wasting money. These could be as simple as canceling a subscription or more complicated, like renegotiating rent. Shopping around for insurance could also save you some cash. Be cognizant of where your money is going or else it will be easy to overspend and you won’t notice until it’s too late and you’ve dug yourself even deeper.

If you can, automatically divert a portion of your paycheck to a savings account. Saving should not be a secondary goal. As the legendary investor Warren Buffet once said “Do not save what is left after spending; instead spend what is left after saving.” You cannot get out of the cycle and start building up a safety net until you start saving on a regular basis. If finances are tight, you could start small and build up over time. Every little bit helps.

Sometimes, we get complacent with our service providers and forget to look through the monthly bills. There may be unfamiliar fees, unused add-ons, or unwanted services tacked on. If you don’t need unlimited data on your cell phone, you could consider switching to a cheaper alternative that charges based on usage. If you do, make sure to purchase the plan that will cover your average data usage and the cellular service coverage area is sufficient for your needs.

Finally, one shouldn’t overlook opportunities to increase their income. These could come through part-time jobs or freelance work, selling unwanted items around your home, etc. Even small increases to income can have a great impact on getting out of living paycheck to paycheck. Some work places frown upon their employees working outside of the company. That being said, it’s wise to review your employer’s policy on outside work so you won’t jeopardize your primary source of income.

Marlie Lin 4/21/23 Marlie Lin 4/21/23

Recession-Era Scam Resurfaces Amid Fears of Recession!

With economic fears that a recession is coming, a scam from the Great Recession period has resurfaced. There are a few different names to it but if you fall victim, you’ll end up signing over the deed to your house to a criminal. Once you do, there is no way to recover.

During the Great Recession over a decade ago, millions of Americans were threatened with foreclosure. Scammers saw this opportunity and contacted desperate homeowners with a plan to avoid foreclosure. These weren’t foreclosure experts; they simply took advantage of the local government’s foreclosure database.

There are several variations to this scam. They could offer to modify your monthly mortgage payments, making them more affordable. They could also have the homeowner sign over the deed to the property to a trusted relative who’s not on the mortgage. All variations will require the homeowner to sign several legal documents, where one of which will transfer ownership of the property. Once the deed is filed, the homeowner is technically trespassing on the property and can be evicted.

According to a report from the Great Recession time period of 2008, this scam can also be combined with identity fraud. If the criminal manages to steal the homeowner's identity, the property could be transferred without them knowing. This process is more complicated but follows some general steps. The con artist will choose a house to steal and focus on stealing the homeowner’s identity. They’ll get personal information such as their Social Security number, driver’s license, and other forms of identification. Once they have this information, they can forge the homeowner’s signature on documents to transfer the property. Once they complete the forms and file them, the house is theirs.

To avoid this scam, be very wary of anyone who contacts you promising a simple solution to your problem. If the “foreclosure specialist” becomes aggressive or uses high-pressure tactics to force you to agree to something, break off any communication with them. Never sign any documents in these situations, and never sign over the deed to your home to a stranger.

Marlie Lin 4/14/23 Marlie Lin 4/14/23

Cyber Thieves and Dark Patterns

The Federal Trade Commission (FTC) reports that cyber thieves are getting more creative in developing a new technique called “dark patterns” to trick consumers into giving up their personal information. These “dark patterns” aren’t only used by cybercriminals. The report also outlines how businesses are using these to trap their consumers.

Dark patterns are schemes and website elements designed to trick consumers into making decisions they didn’t intend to or know of. Dark patterns can also prevent a user from completing their original task. These can confuse consumers and guide them on a path that ends up revealing their personal information, agreeing to terms, or even making purchases without full knowledge of it happening.

Examples of Dark Patterns:

Website displays a countdown timer, implying the offer will end
Displaying a banner that implies a very limited supply
Banner with an advertisement that will not go away, no matter how many times you close it
Numerous links or complicated instructions to unsubscribe or cancel membership
“Escalating” your request to receive “free” products, such as providing your name, phone number, email address, etc.
Lack of notice that a free trial is ending and that you’ll be charged fees soon
Hidden fees and required account sign-ups, typically shown at the checkout of e-commerce websites
Use of double negatives, for example, “don’t not sell my information”

Marlie Lin 4/3/23 Marlie Lin 4/3/23

Nothing Comes for Free

It's always good to follow the old adage, "if it's too good to be true, it probably is." ConsumerAffairs has been investigating offers of free phones on Facebook Marketplace and have found over 158,000 results in over 60 groups. While some of these may be legitimate or have some strings attached, others can be more nefarious.

The posting description will lead the buyer to believe the phones are old stock on Amazon and the company has decided to get rid of them for free or at a very low cost. If you click on the link to apply, you'll be taken to a fake Amazon website filled with fake products and reviews. It'll also include a timer to put pressure on you to act fast. These scammers want your money and personal data. If you fall for their tricks, they could even attempt to hijack your Facebook account.

Experts say don’t fall for deals that sound too good to be true. Regularly check your credit reports and bank statements. Strange charges on your accounts is an indication of identity theft.

Marlie Lin 3/24/23 Marlie Lin 3/24/23

Auction Scams

According to the Better Business Bureau (BBB), auction scams are on the rise again. Counterfeit auction sites are popping up and fooling consumers into trying to purchase big-ticket items like vehicles and boats. Not only do they steal from the consumer but also personal information to exploit their victims.

Auction scams typically start with an ad for auction sites selling cars, motorhomes, boats, and other expensive items. The website looks legitimate and might even claim to be associated with the government. The consumer becomes interested, registers for the website, and provides personal information like their driver’s license. They “win” some auctions and are told to transfer money. Once they make the transfer, the auctioneer disappears.

If the auction claims to be a “government” auction, consumers should directly contact that branch of government. Consumers should research the auction company and understand its terms and conditions. There may be additional fees like an “entry fee.”

Marlie Lin 3/20/23 Marlie Lin 3/20/23

30-day Consumer Demand Letter

What's a 30 Day Demand Letter

If you are a consumer that feels that you have been scammed by a merchant who had sold you goods and services, you can file a Chapter 93A, also known as a demand letter.

A 30-day Demand Letter or 93A Letter in Massachusetts is an official notice that you or an attorney can draft. This includes a 30-day deadline for the merchant to respond before one files a lawsuit against them. The letter details all of the actions allegedly performed by the recipient that is in violation of the Massachusetts Consumer Protection Act. The letter should also include the sender's demands for relief and the noted deadline.

Massachusetts Consumer Protection Overview

The Consumer Protection Act was created to protect consumers from unfair and deceptive actions by businesses or individuals. Under this Act, the consumer has four (4) years from the date of the incident to take legal action against the business or individual. In Massachusetts, the amount sought must be $7,000 or less in order to be submitted to Small Claims Court, although every state has its own set limit. The consumer can hold the business or individual liable for attorney fees and triple damages if they don’t respond or settle the claim.

What To Include In Chapter 93A Demand Letter

The Chapter 93A is a letter that should have four specific things:

Your name and address
A detailed description of the product/services you are reporting, including the date of purchase and the amount paid
Statement of why you feel deceived, include the amount you suffered or lost
The relief you are seeking from the company, including the exact amounts

Marlie Lin 3/10/23 Marlie Lin 3/10/23

Don't Pay With Gift Cards

Some people may ask you to pay for services or products using gift cards, like a Google Play or iTunes card. They’ll ask you to place money on the gift card and then tell them the numbers on the back of the card. If this ever happens, they are certainly trying to scam you. Businesses and government entities will never ask you to pay using gift cards.

Gift cards are a popular and convenient way for scammers to access your cash because there are fewer protections surrounding gift cards and they are relatively easy to buy and add money to. Gift cards act more like cash: once you use the value on them, they’re gone. If you give out the card number and PIN associate with the gift card, they’ll have your money.

There are some common stories scammers will say to convince you to pay them with gift cards. They’ll say it’s urgent and that if you don’t pay soon, something terrible will happen. They also specify which gift card to purchase. They may send you to a specific store, such as Walmart or CVS. They may even suggest purchasing cards from several different stores to avoid suspicion and stay on the call with you while you visit these stores. Finally, the scammer will ask for the card numbers and PIN. Once they have this, they’ll drain the cards right away.

There are several schemes that these scammers will use.

They will say they’re from the government, such as the IRS or Social Security Administration, and say you must pay your taxes with gift cards.
They are from technical support, most likely Microsoft or Apple, and there is something wrong with your computer
They meet you on a dating app and they need money for help or to come see you
They’re your family member or friend and need money discretely. If you’re concerned this may be true, hang up and directly call the family member or friend.
You’ve won a prize but you must pay a fee or other charges with a gift card
Your utility company, such as your electric or gas company, is threatening to shut off your service unless you pay with gift cards
You’ll get a check for more money than expected. They’ll tell you to deposit the check and put the difference on a gift card. This check will be fake, though, and you’ll lose all the money.

If you’ve paid a scammer using a gift card, tell the company issuing the card right away.

Amazon

Call 1 (888) 280-4331.
Keep the Amazon card itself and your receipt for the Amazon card.

Ebay

Chat with eBay customer support, or have a representative call you back.
https://www.ebay.com/help/buying/paying-items/ebay-gift--cards?id=4640&showChannel=true
Keep the eBay gift card itself and your receipt for the eBay gift card.

Google Play

Report the gift card scam to Google
https://support.google.com/googleplay/answer/9057338?hl=en
Keep the Google Play card itself and your receipt for the Google Play card.

iTunes

Call Apple Support right away at 1 (800) 275-2273. Say “gift card” to connect with a live representative.
Ask if the money is still on the iTunes card. If so, Apple can put a freeze on it. You might be able to get your money back from them.
Keep the iTunes card itself and your receipt for the iTunes card.

Steam

If you have a Steam account, report gift card scams online
https://help.steampowered.com/en
Click the “Purchases” option, then click, “I have charges from Steam that I didn’t make.” Then click, “Contact Steam Support.”
Keep the Steam card itself and your receipt for the Steam card.

MoneyPak

Report gift card scams to MoneyPak, https://www.moneypak.com/security
Keep the MoneyPak card itself and your receipt for the MoneyPak card.

When buying gift cards, remember they are for gifts, not payments. If you’re purchasing gift cards, avoid buying from online auction sites, as these may be fake or stolen. Make sure the protective stickers are still on the card and not tampered with. Make sure the PIN isn’t showing on the card as well. Keep the receipt, this will be helpful when filing a report if you lose the card.

Information provided by Federal Trade Commission.

Marlie Lin 3/6/23 Marlie Lin 3/6/23

Home Energy Tips

Winter is in full swing and homeowners are scrambling to find ways to increase their home energy efficiency and keep their homes warm.

Check your home’s exterior and roof for any potential issues. There shouldn’t be loose or missing shutters or sidings. Repair items that are in poor condition. For roofing winter maintenance, it’s important to check the shingles, flashing, and gutters. When it’s weather appropriate, clean out the gutters to prevent ice buildup that could creep under your shingles. A sturdy and well maintained chimney should never be chipped or leaning to the side. If it is, get it repaired as soon as possible. The trees nearby your home could potentially cause damage to your property so it’s wise to inspect them and trim any weak or dead branches. You can also look into purchasing a roof rake to help remove snow from the roof while the user stands on ground level.

With the quick temperature drops during New England winters, pipes can get too cold and freezes the water inside. Frozen pipes can burst, causing water damage, ruined floors and walls, and even ceiling collapse. To help prevent frozen pipes, insulate them in unheated places like basements, garages, and attics. Insulation can come in many forms but commonly people use pipe sleeves or heat tape. You can also trickle cold water from these unheated pipes to keep water flowing during significant temperature drops. Minimize drafts by adding weather stripping to doors and caulk around windows. If you’re staying indoors, keep the temperature to at least 65 degrees Fahrenheit; if you’re not home, then set the temperature no lower than 55 degrees. Keep your garage doors closed and drain and disconnect outdoor hoses and sprinkler systems. Finally, you should know where the main water valve is located in your home. It is typically in the basement on the side of the house facing the street.

Marlie Lin 2/27/23 Marlie Lin 2/27/23

Ring Ring! Call for the Homeowner!

The Federal Communications Commission (FCC) has taken action against a robocall scam campaign focused on homeowners and mortgages. The campaign was run by Florida-based real estate brokerage firm MV Realty. The MA Attorney General has filed lawsuits against MV Realty and claimed the company misled consumers about the terms of their Homeowner Benefit Program. The company even obtained mortgages on consumers’ homes without their knowledge. MV Realty offered homeowners $300 - $5,000 if they used the company as an exclusive listing broker. Once MV Realty accepts the money, they take a 40-year lien on the victim’s house and the homeowners are forced to pay the company 3% of the value of the house. This fee is applied regardless if MV Realty has provided real estate listing services.

MV Realty has refused to comment on the issue and has denied cold-calling consumers. They’ve defended themselves on the Better Business Bureau website. They claim the lien is a “memorandum” and a lien is only taken on the property if the consumer uses another realty listing agency.

Marlie Lin 2/19/23 Marlie Lin 2/19/23

Breakdown of A Scam

man holding piggy bank away from other hands trying to take it

A recent scam almost stole $3,000 from a retired couple. Many fraudsters will use different tactics and stories but by breaking down this incident, we can see some common signs of a scam.

It started when a “worker from Walmart” called to confirm a $3,000 order. The couple didn’t make this order and was shocked. If we take a step back to think this through, we’d realize that it doesn’t make sense for a Walmart employee to question an order simply because of the price tag.

After this, the Walmart employee offers to connect the couple to their bank’s fraud department. This is very abnormal, as an employee may urge the customer to contact the bank themselves but shouldn’t personally intervene. To the couple’s surprise, a “police officer” responds to the phone call instead of the bank.

The fake police officer builds trust by using a fake name and badge number. He tells them they’ve been tracking a criminal and need the help of the civilians. Enlisting the help of civilians in this manner rarely occurs and is another red flag. In the end, the couple was told to buy gift cards from a local CVS, the last sure sign of a scam. Remember that no legitimate organization is paid through gift cards.

Marlie Lin 2/10/23 Marlie Lin 2/10/23

Lets Meet Up, Could You Pay For My Tickets?

February is here and love is in the air! Avoid heartache and be cautious who you trust your heart to as scammers work to find new victims. “The scammer’s intention is to establish a relationship as quickly as possible, endear himself to the victim, and gain trust,” said the FBI in a recent press release. “Scammers may propose marriage and make plans to meet in person, but that will never happen. Eventually, they will ask for money.”

There are stories everywhere about people falling for romance scams. In late January this year, a 43-year-old man living in Canton, MA confessed to stealing over $1 million by running romance scams.

The biggest red flag is if they ask for money, according to Jon Clay, vice president of Threat Intelligence at Trend Micro. They either try to make their victims feel for their plight, or request funds for a trip to visit them. Many will use stock photos and generic biographies in their dating profiles. Online search engines allows you to search an image for it’s origin so you can see if it came from a generic website like Getty Images. Try to keep communications on the dating app, also. Scammers will try to move the conversation to texts or calls which are more difficult to monitor. If you ever suspect an online relationship is a scam, stop all communications and report it to the FBI’s internet Crime Complaint Center at www.IC3.gov.

Marlie Lin 2/3/23 Marlie Lin 2/3/23

Failed Inspection or Lemon Aid Law

The new year is here and that may mean new vehicle purchases. While many of these will occur without issues, some may ﬁnd their vehicles have defects. In Massachusetts, the “Failed Inspection Lemon Law” may be step in. If the vehicle fails a state inspection within seven days of receiving it and the cost to repair is at least 10% of the purchase price, you are entitled to a refund.

The vehicle must be inspected within seven days of receipt at an authorized inspection station. If you fail the inspection, it should come with a written statement describing the failure. The same inspection station could give you a written estimate of the repair costs. You can also get a written estimate for repairs at any other legitimate repair shop. With the inspection failure and repair estimate documents, let the seller know you want a refund. You have 14 days from receipt of the vehicle to make this request. After making the request, bring the vehicle back to the dealership. If they refuse to refund, bring a witness and a notarized document signed by both you and your witness. At this point, you will need to go to mediation or court for ﬁnancial restitution.