"Equity Stripping" scams on the decline

Real estate scams are apparently on the decline as the real estate bubble continues its collapse:

“Equity stripping is largely a thing of the past because there’s no equity to strip,” said [DOJ official] Perez.

“Equity stripping” is a scam where con-artists persuade confused or ill-prepared people to sign home-loan contracts that transfer the property rights. Victims — often old or ill-educated — are left without their homes, but with much new debt.

Instead of equity stripping, the con artists are moving to new areas, Perez said.

H/T Daily Caller

The collapse of the bubble has created a situation where, at least as far as real estate is concerned, there is nothing left to steal.