WARNING: Home Improvement Scams Targeting the Elderly
If you're looking for repairs or renovations on your home, beware of the many scammers out there.
Bob Massi, host of "The Property Man," sounded the alarm this morning about the continuing problem of home improvement scams that specifically target the elderly.
Massi said it's been an issue for many years and according to a 2015 report, an estimated $36.5 billion is lost per year by elderly Americans to various financial scams.
He said scammers keep an eye on probate court, thus allowing them to target a widow following the death of her husband.
"It's very sad, but it's true," said Massi, adding that typically a fraudulent contractor will convince the elderly individual that they're in urgent need of a repair, like for example a new roof.
In many cases, the unwitting homeowner will write a check for work that is never done.
Massi explained that unlicensed contractors will typically ask for a down payment upfront and offer to get the work done with no contract. They will also come to your door or contact you unsolicited.
If this happens, Massi advised that you ask the person for referrals so you can contact previous customers of the contractor.
"If those people turn around and walk away, you know you're part of a scam."
Watch the full interview above.