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CARLSBAD, Calif. (KGTV) - The purchase of a dream home nearly turned into a nightmare for a Carlsbad family, as they narrowly avoided a costly escrow scam.In late July, Greg Shoman and his wife were just days from closing on a four-bedroom home when he thought he got an email from his escrow officer with wiring instructions for the down payment to be sent that day. In the email, the escrow officer said she was busy and could only talk by email, before sending him a calculation of the closing costs. "You see so many emails and documents during the process, and you start to become numb to it ... Everything on the email - from the masthead to the signature - looked like the emails we had been receiving from the escrow company during the process," said Shoman.Shoman went to his bank to wire the money. His bank happened to be the same bank the money was to be transferred to, and the bank confirmed the routing number matched a non-business account in Wisconsin, not a California escrow company. After a call to the real escrow company, he learned the emails were fakes."Surprised and angry, and then ultimately relieved you didn't give away several hundred thousand dollars," said Shoman. Shoman isn't alone. According to the FBI, Americans lost 0 million to real estate fraud last year. In many cases, the scammer identifies pending home sales through the MLS and real estate sites and hacks the emails of someone involved in the sale, before sending out false wiring instructions."Be aware, be vigilant, and call your escrow company. Don't be afraid to triple check," said Shoman's realtor, Ilana Huff of Pacific Sotheby's.Shoman says the FBI is investigating his case. He says a closer look at the emails revealed the email address in the scam message was different from the email address of the real escrow officer. 1838
Burning Man co-founder Larry Harvey passed away on Saturday, according to festival CEO Marian Goodell. He was 70 years old.Goodell made the announcement through a blog post on Burning Man's website. She says that Harvey suffered a massive stroke on April 4. He passed away peacefully on April 28 in San Francisco with family members at his side."Burning Man culture has lost a great leader and an inspiring mind," Goodell wrote in the blog post. "The loss of his presence in our daily lives will be felt for years, but because of the spirit of who he is, we will never truly be without him."The annual celebration of "radical self-expression" and "radical self-reliance" brings hundreds of thousands of people to the Black Rock Desert in Nevada. It first started in 1986 when Harvey and his friend Jerry James built a wooden figure on a San Francisco Beach and burned it down to honor the Summer Solstice. 913
CALIFORNIA — Thousands of San Diego residents are saving big by "buying nothing."It's just past 9 a.m. on a late November in Bay Ho and lots of pieces of bread, rolls and muffins are ready for taking. Becky Sloan is the first to arrive.The food is set up outside the home of Tomira Baca-Craig, who runs a food co-op that divvies out extra bread donated by bakeries and stores. On this morning, she posted the giveaway on her "Buy Nothing" Facebook group.It's not just bread. Sloan showed reporters with KGTV in San Diego photos of baseballs, crafting items, shoes for her children and home decor, just some of the stuff she's received in the last two years. All of the items were offered up by neighbors on the Bay Park/Bay Ho Buy Nothing page."I think I might have saved anywhere from ,500 to ,000," Sloan said.Sloan actually gifts more items than she receives."It's awesome. You can give just about anything away, and you can receive just about anything you ask for," Sloan said. 1013
Can you cover an unexpected 0 expense?Four in ten Americans can't, according to a new report from the Federal Reserve Board. Those who don't have the cash on hand say they'd have to cover it by borrowing or selling something.The bright side? That's an improvement from half of adults being unable to cover such an expense in 2013. The number has been ticking down each year since.Overall, the financial situation of American households has improved during the past five years, according to the Economic Well-Being of U.S. Households report. It shows that in 2017, 74% of adults reported feeling at least "okay" financially, an increase of 10 percentage points from the first survey four years earlier."This year's survey finds that rising levels of employment are translating into improved financial conditions for many but not all Americans," Federal Reserve Board Governor Lael Brainard said in a press release, "with one-third now reporting they are living comfortably and another 40% reporting they are doing okay financially."Still, many are struggling. Notable differences remain across race, ethnicity, education levels and geography. The report shows hardship continues for people working to repay college loans, cover emergency expenses and manage retirement savings.For the first time the report also looked at the opioid epidemic, reporting that one out of five adults personally knows someone with an addiction to painkillers. Exposure does not vary much by education level or by local economic conditions.The study was drawn from the Board's fifth annual Survey of Household Economics and Decisionmaking, which looks at the economic health of Americans. The survey of 12,000 people examined their income, employment, unexpected expenses, banking and credit, housing, education, and retirement planning in November and December 2017.While showing that Americans' financial lives are moving in a positive direction, the report does raise some concerns about their most basic levels of financial stability: emergency funds and retirement."The finding that four-in-ten adults couldn't cover an unexpected 0 expense without selling something or borrowing money is troubling," said Greg McBride, chief financial analyst at Bankrate.com. "Nothing is more fundamental to achieving financial stability than having savings that can be drawn upon when the unexpected occurs."McBride suggests setting up automatic direct deposits from a paycheck to a savings account that can build some much-needed financial cushion.He's also concerned about another finding in the report: fewer than 40% of adults think their retirement savings are on track."The burden is on us as individuals to save for our retirement," he says. "Take control of your financial destiny by contributing to an employer-sponsored retirement plan such as a 401(k) via payroll deduction, or arrange automatic monthly transfers from your bank account into an IRA."More concerning are the 25% of Americans with no retirement savings whatsoever, according to the report.Some of this may be due to the lack of employer-sponsored retirement plans, as well as people piecing together several part-time jobs, which may not offer benefits.The report found that while most workers are satisfied with the wages and benefits from their current job and are optimistic about their future job opportunities, challenges remain, particularly with irregular job schedules. 3451
CEDAR PARK, TX — Three police officers were shot Sunday while responding to a call in Cedar Park, Texas, according to police.The three officers suffered non-fatal injuries while responding to the call on Sunday afternoon and are currently stable at a local hospital.The shooting began an hours-long standoff that lasted throughout the evening on Sunday and well into Monday morning. Two hostages were released from the home on Monday morning at about 8 a.m. CT. About an hour later, a third hostage and the suspect emerged from the home peacefully.Preliminary information obtained by ABC News says the incident started as a domestic dispute. 650