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With a record number of foreclosures tied to the mortgage crisis, there's no shortage of property for sale.
If you're in the market to purchase property that's in foreclosure, buyer beware.
The Better Business Bureau has received inquiries from consumers who were searching the Internet for ways to buy foreclosed property.
They found a Web site operated by a company in California called OrangeFuture.com.
The company's Web site states that they can give you access to foreclosed property in your area. And then train you to trade in foreclosed property and simply "take over" mortgages. The membership fee for this was stated at $99.
The BBB in California has a report on Orange Future. The BBB has given the company an "F" rating. Complaintants allege problems with the company's guarantee and that they were charged twice as much money as they were told originally.
Consumers also complained that the company falsely represented the number and availability of listings and didn't disclose that buyers are supplied with property locations only. The buyers had to devise ways of contacting current owners or residents themselves.
This story points out the importance of checking out companies with the BBB before doing business with them. It can save you time, money and hassle.
You can contact the BBB of Central and Eastern Kentucky toll-free at 1-800-866-6668 or online at www.ky.bbb.org.

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