Zillow! Should be a four-letter word if you ask most Realtors. Zillow does a lot of shady stuff if you ask me, and it’s all in the name of driving traffic and inquiries to the Realtors and lenders who pay to appear on Zillow. One of their biggies is to show homes which are “pre-foreclosure” “listings.” Yes, they’re listed on Zillow, but these “pre-foreclosure” homes are not listed for sale – which means that in the overwhelming majority of instances means you can’t buy them. But there’s no notice to that effect on Zillow, it just says “pre-foreclosure” and hey, everyone wants to buy a foreclosure because they’re cheap, right? But bank-owned foreclosures, which everyone really is thinking about when they use the word “foreclosure” usually appear on Zillow as actual for-sale properties with an “Active” status. These pre-foreclosure homes are properties where the owners are in default on their mortgage payments, and the lender has issued a notice of default – which is public record. So Zillow isn’t breaking any laws by posting them on their web site, but what they are doing is misleading consumes into believing that these are actual properties that the owners want to sell, and that they can go and see – which in almost all cases is not true. Bad Zillow!
Zillow’s Clickbait Tactics Confuse Buyers
Lyin’ Cheatin’ Lenders
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