Real Estate Opportunities - Foreclosure School
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Foreclosure School is a sister concern of the Foreclosure World group, which is also known as the Foreclosure Town and Foreclosure Leads. Jordan Publishing Corporation of California is the parent company run and manages these firms.
Foreclosure School is a website that apparently offers current updated data of foreclosure property listings and bank contact in all towns. They allow you a trial free search but that only reveals the number of properties in your area. To get all other details, you must become a member. The fee ranges between three to four hundred dollars and is nonrefundable.
This is where the alleged scam starts. Apparently, the free search, gives false results. It shows that there are many foreclosure properties in your area and you sign up (on a nonrefundable fee) to get their details. You soon realize there are few properties and the others are all false leads. Once you pay your nonrefundable fees, all you get is a worthless and outdated list with false addresses.
To quote a customer “I tried their free search and came up with 25 listings in the town I was interested in. I called and actually SPOKE with their representative. I was told the listings were updated weekly. I paid my membership fee. Then I found they only have 2 current listings on their site! Turns out the "free search" list were bankruptcies (not foreclosures) from 3 years ago!”
Jordan Publishing does not have a good reputation and has been involved in earlier scams with their company Foreclosure World, for assailing people with junk mail.
In 2003, the California Department of Real Estate also issued the company a Desist and Refrain Order for Unlicensed Activities. Somehow, the company has managed to survive. They might have even got a license for their activities. However, be careful in your dealings with them. They are unethical and you may just be fooled of your hard-earned money.
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