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Mr. Nelson Carey
Shrader offered to purchase homes in Hamilton County from
consumers who needed to sell their properties quickly. Rather
than purchase the home outright, Shrader convinced the
homeowner to create a trust, name Shrader as the trustee,
and then assign all beneficial interest in the trust to Shrader.
In return, Shrader promised to lease/option the house to
tenants who needed to improve their credit. Shrader collected
rents and then ultimately failed to make mortgage payments.
In recent months, an increased number of real estate professionals have reported their listings being scraped and used for rental scams. Scammers are reposting the listing information on Internet sites, such as Craigslist, and claiming the home is for-rent, not for-sale. The perpetrator will often tell the renter that the home is unavailable for a showing. Unsuspecting renters who are lured to the low rental price will make deposits to rent the property only to find out later that the home was never available for rent. Then the listing will quickly disappear off the Internet.