Southcrest residents report 'predatorial' low ball offers on flood-damaged homes

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Southcrest residents report 'predatorial' low ball offers on flood-damaged homes
Home ValuesMortgagePredatory
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Jim Avila joins 10News as a Senior Investigator following his storied career at ABC News.

SAN DIEGO — The January floods were just the first challenge for homeowners in the underserved communities of San Diego. Before the water even receded, phones were ringing, mailers slipped under the front door, and realtors were knocking, offering a quick way out. Southcrest residents say they have been preyed upon by low-ball offers from real estate agents who insist they are just trying to help. And it’s not the first time this neighborhood has been flooded.

'Other offers promise “no repairs or cleaning, zero fees and a fast closing' — phrases that appeal in a flood zone where FEMA, insurance and charity payments can be slow in coming, or way under the actual cost of repairs. Montoya received $4,000 from FEMA, insurance sent him $82,000, the San Diego Housing Commission provided $11,000, his church donated $6,200 and the SDGE Senior Citizen Program chipped in $2,000.

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