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Sunday, December 31, 2023

Gas Station Scam: How 'Pump Switching' Works and How To Avoid It - Yahoo Australia

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Guillem de Balanzo / Getty Images/iStockphoto
Guillem de Balanzo / Getty Images/iStockphoto

As important as it is to save money, it’s just as critical to stay alert for various financial scams. There are so many out there, including a new gas station scam for be on the lookout for.

I’m a Financial Expert: Always Buy the Cheapest Version of These 10 Things
Also: 7 Things the Middle Class Spends Too Much Money On

This scam is known as “pump switching,” and here we will look at how it works and how you can avoid it.

Sponsored: Get Paid To Scroll. Start Now

What’s the New Pump Switching Scam?

The scam has become so rampant that the police in Philadelphia sent out a public service alert about it. This newest scam targets people using credit cards to pay at the pump. The scammers have been approaching unsuspecting victims at the gas pump to offer to pump their gas for them or put the nozzle back to complete the transaction. Then, instead of putting the nozzle back on the gas pump to close the transaction, the scammer will continue by pumping the gas into their vehicle.

In some cases, the scammers have also offered to hang the nozzle and then left it active as they proceeded to pump gas for the next customer. In this scenario, the still-active nozzle is used to pump gas for a new customer, where the scammer will request cash for the transaction.

So let’s say that you want $50 worth of gas for your car. The scammer will offer to hang the nozzle for you, and then they may add another $50 worth of gas into their vehicle or the next customer’s, leaving you with a $100 credit card transaction. You may not realize that you were a victim of this scam until you check your credit card balance to find out that your transaction was double the cost.

These scam artists look for victims at the gas station who may be good-natured or appear to be physically weak to offer to pump their gas or to hang the nozzle for them. In some reports, the scammers have been aggressive with the interaction. Some of the suspects have aggressively taken the nozzles from the victims’ hands after they were denied their offer of assistance.

According to one report, a scam victim allowed a stranger to hang up their gas nozzle for them. The victim didn’t think anything of this interaction until they noticed a $165 charge on their credit card, which was much higher than the amount of gas that they had inserted.

Buying a New Car Under $20,000? Here Are Your Best Options

How To Avoid This Scam

While there are different strategies for avoiding scams online, this particular one is unique since it happens in person, and you may be caught completely off guard. Here’s how you can protect yourself from this scam.

Stay Alert When Pumping Gas

It’s natural to zone out, or you may even be tempted to check your phone while pumping your gas. This is a routine activity where you may get lost in thinking about your workday or the errands you need to run. With this scam becoming more common, you must be alert when pumping gas. You should also try to avoid interactions with someone who clearly doesn’t work at the gas station who is trying to get involved in your process. If a stranger approaches you, decline their assistance politely.

Always Collect Your Receipt

Hang up your gas hose and collect your receipt every single time by pressing “End Transaction” to ensure you were only charged for the gas you used to fill up. Even if you’re in a hurry, it’s critical that you close your transaction so that some scammer doesn’t charge you for additional gas. The time it takes to close the transaction is minuscule compared to how much you will have to deal with when it comes to contacting the authorities and your credit card company.

Alert Staff or Police

If someone gets aggressive or confrontational with you at the gas pump, don’t get into it with them. The best strategy is to call for help immediately by notifying the gas station staff or contacting the police so that you don’t get into a physical confrontation. The police have also recommended that if you encounter this scam, you should find a safe area where you can remain on the scene until the authorities arrive.

Closing Thoughts

It’s critical to stay alert at the gas station as this new scam is becoming more common. If someone offers to pump your gas for you, politely decline. If they insist or become confrontational, call for help right away. Always be aware of your surroundings and ensure that you always collect your receipt before you drive off.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Gas Station Scam: How ‘Pump Switching’ Works and How To Avoid It

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BONK Price Correction Warns Death Cross, Can Buyers Avoid It? - Coinpedia Fintech News

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With buyers losing the firm footing at the 50 EMA in the 4H chart, the BONK price has declined at a quick pace in the last few days. Moreover, the pullback phase takes a strong hit at the BONK market value and warns of a death cross in the 4H chart.  

During the intense increase in the pullback phase, the sellers crash the BONK price under the $0.000015 psychological milestone. With this breakdown, the sellers retest the 200 EMA in the 4H timeframe and warn of a death cross. 

Despite the quick fall this week, the bull run in the last few months fuels the optimistic approach of Bonk price prediction and teases a trend continuation. Moreover, in the coming weeks, the positive sentiments in the market and the growing community will have an approving impact.  

Source – Tradingview

Currently, the buyers display a fightback and find support at the 200 EMA in the 4H timeframe and resurface above the psychological mark of $0.000015. However, as the buyers lost the 61.80% Fibonacci level, the support turned resistance will hamper the recovery attempt. 

With a bullish reversal, the BONK price trades at $0.0000155 with an intraday growth of 4.84%. Further, this teases a strong reversal with a morning star in the daily chart. Moreover, the long tail intraday candle formed last night due to the bullish fightback bolsters the possibility of reversal. 

Considering the meme coin manages to sustain above the $0.000015 mark, the BONK price can rechallenge the previous swing high. Moreover, the Fibonacci retracement level in the 4H timeframe highlights the crucial zones of resistance that the bulls may face. 

Technical indicators: 

MACD Indicator: The daily MACD and signal lines are supporting the bullish reversal possibility with a positive crossover in action. Further, this will fuel the rising trend of bullish histograms and signal a possibility of increased trend momentum. 

Will BONK Price Reach $0.000035?

As the meme coins and the majority of altcoins take a dip, the BONK price retests the 50D EMA. However, the BONK price trades at $0.000015 while teasing a morning star pattern and attempting a bounce back. 

Hence, the recovery rally can reach the $0.000035 mark if the buyers can sustain above the 50D EMA till the New Year run. 

On the flip side, with the grim possibility of a death cross in the 4H technical chart, the downside chances will increase and potentially challenge the $0.000010 mark. 

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Gas Station Scam: How 'Pump Switching' Works and How To Avoid It - Yahoo Australia

ragamnyakabar.blogspot.com
Guillem de Balanzo / Getty Images/iStockphoto
Guillem de Balanzo / Getty Images/iStockphoto

As important as it is to save money, it’s just as critical to stay alert for various financial scams. There are so many out there, including a new gas station scam for be on the lookout for.

I’m a Financial Expert: Always Buy the Cheapest Version of These 10 Things
Also: 7 Things the Middle Class Spends Too Much Money On

This scam is known as “pump switching,” and here we will look at how it works and how you can avoid it.

Sponsored: Get Paid To Scroll. Start Now

What’s the New Pump Switching Scam?

The scam has become so rampant that the police in Philadelphia sent out a public service alert about it. This newest scam targets people using credit cards to pay at the pump. The scammers have been approaching unsuspecting victims at the gas pump to offer to pump their gas for them or put the nozzle back to complete the transaction. Then, instead of putting the nozzle back on the gas pump to close the transaction, the scammer will continue by pumping the gas into their vehicle.

In some cases, the scammers have also offered to hang the nozzle and then left it active as they proceeded to pump gas for the next customer. In this scenario, the still-active nozzle is used to pump gas for a new customer, where the scammer will request cash for the transaction.

So let’s say that you want $50 worth of gas for your car. The scammer will offer to hang the nozzle for you, and then they may add another $50 worth of gas into their vehicle or the next customer’s, leaving you with a $100 credit card transaction. You may not realize that you were a victim of this scam until you check your credit card balance to find out that your transaction was double the cost.

These scam artists look for victims at the gas station who may be good-natured or appear to be physically weak to offer to pump their gas or to hang the nozzle for them. In some reports, the scammers have been aggressive with the interaction. Some of the suspects have aggressively taken the nozzles from the victims’ hands after they were denied their offer of assistance.

According to one report, a scam victim allowed a stranger to hang up their gas nozzle for them. The victim didn’t think anything of this interaction until they noticed a $165 charge on their credit card, which was much higher than the amount of gas that they had inserted.

Buying a New Car Under $20,000? Here Are Your Best Options

How To Avoid This Scam

While there are different strategies for avoiding scams online, this particular one is unique since it happens in person, and you may be caught completely off guard. Here’s how you can protect yourself from this scam.

Stay Alert When Pumping Gas

It’s natural to zone out, or you may even be tempted to check your phone while pumping your gas. This is a routine activity where you may get lost in thinking about your workday or the errands you need to run. With this scam becoming more common, you must be alert when pumping gas. You should also try to avoid interactions with someone who clearly doesn’t work at the gas station who is trying to get involved in your process. If a stranger approaches you, decline their assistance politely.

Always Collect Your Receipt

Hang up your gas hose and collect your receipt every single time by pressing “End Transaction” to ensure you were only charged for the gas you used to fill up. Even if you’re in a hurry, it’s critical that you close your transaction so that some scammer doesn’t charge you for additional gas. The time it takes to close the transaction is minuscule compared to how much you will have to deal with when it comes to contacting the authorities and your credit card company.

Alert Staff or Police

If someone gets aggressive or confrontational with you at the gas pump, don’t get into it with them. The best strategy is to call for help immediately by notifying the gas station staff or contacting the police so that you don’t get into a physical confrontation. The police have also recommended that if you encounter this scam, you should find a safe area where you can remain on the scene until the authorities arrive.

Closing Thoughts

It’s critical to stay alert at the gas station as this new scam is becoming more common. If someone offers to pump your gas for you, politely decline. If they insist or become confrontational, call for help right away. Always be aware of your surroundings and ensure that you always collect your receipt before you drive off.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Gas Station Scam: How ‘Pump Switching’ Works and How To Avoid It

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Saturday, December 30, 2023

WVU Medicine urges public to avoid it’s emergency facilities - WDTV

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MORGANTOWN, W.Va (WDTV) - WVU Medicine is experiencing a holiday surge in their emergency departments and they are urging patients, who can, to go to their primary care providers. This is due to the rise of respiratory illnesses, including Covid-19, Influenza, and RSV.

“The rise started just before the Christmas holiday,” said Dr. Christopher Goode. “We were able to get through the Christmas holiday with minimal disruption to our regular flow. But I think as people were out and about the viruses started picking up a little bit.”

WVU Medicine says they have seen this rise the last seven to ten days. Along with urging patients to use their urgent care centers, they are finding more ways to keep West Virginians healthy. Dr. Goode is the Chairman of Emergency Medicine with WVU Health and is confident in what the company has come up with.

“Anyone that is in our system that has my chart can utilize visits and video visits. If anyone has an opportunity or a question whether there is more necessary treatment. If the symptoms are mild, our urgent cares and many other urgent cares are open throughout the holiday season to access care. And then we are working on what to do with sick kids when they arrive on campus.”

A pediatric acute care clinic was set up to do just that as schools prepare to be back in session.

“So what this allows us to do with a patient is if a child is rushed to our emergency department clinic we have one of our physicians evaluate them quickly,” said Dr. Goode. “And rather having the child and that family wait in the waiting room, sometimes for an extended period of time, we have a meconium to move them over to one of our clinics.”

WVU Medicine is urging all of you at home to do the simple things to stay out of any medical facility as the holiday season dwindles down. Stay at home, don’t touch your face, wash your hands, and drink plenty of fluids.

“So it’s really interesting, a couple of years ago during Covid-19 we didn’t see much RSV and we didn’t see much flu because people stayed home if they were ill or felt ill. That’s the best advice really is to stay home if you feel ill or if your kids feel ill.”

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Friday, December 29, 2023

BONK Price Correction Warns Death Cross, Can Buyers Avoid It? - Coinpedia Fintech News

ragamnyakabar.blogspot.com

With buyers losing the firm footing at the 50 EMA in the 4H chart, the BONK price has declined at a quick pace in the last few days. Moreover, the pullback phase takes a strong hit at the BONK market value and warns of a death cross in the 4H chart.  

During the intense increase in the pullback phase, the sellers crash the BONK price under the $0.000015 psychological milestone. With this breakdown, the sellers retest the 200 EMA in the 4H timeframe and warn of a death cross. 

Despite the quick fall this week, the bull run in the last few months fuels the optimistic approach of Bonk price prediction and teases a trend continuation. Moreover, in the coming weeks, the positive sentiments in the market and the growing community will have an approving impact.  

Source – Tradingview

Currently, the buyers display a fightback and find support at the 200 EMA in the 4H timeframe and resurface above the psychological mark of $0.000015. However, as the buyers lost the 61.80% Fibonacci level, the support turned resistance will hamper the recovery attempt. 

With a bullish reversal, the BONK price trades at $0.0000155 with an intraday growth of 4.84%. Further, this teases a strong reversal with a morning star in the daily chart. Moreover, the long tail intraday candle formed last night due to the bullish fightback bolsters the possibility of reversal. 

Considering the meme coin manages to sustain above the $0.000015 mark, the BONK price can rechallenge the previous swing high. Moreover, the Fibonacci retracement level in the 4H timeframe highlights the crucial zones of resistance that the bulls may face. 

Technical indicators: 

MACD Indicator: The daily MACD and signal lines are supporting the bullish reversal possibility with a positive crossover in action. Further, this will fuel the rising trend of bullish histograms and signal a possibility of increased trend momentum. 

Will BONK Price Reach $0.000035?

As the meme coins and the majority of altcoins take a dip, the BONK price retests the 50D EMA. However, the BONK price trades at $0.000015 while teasing a morning star pattern and attempting a bounce back. 

Hence, the recovery rally can reach the $0.000035 mark if the buyers can sustain above the 50D EMA till the New Year run. 

On the flip side, with the grim possibility of a death cross in the 4H technical chart, the downside chances will increase and potentially challenge the $0.000010 mark. 

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Thursday, December 28, 2023

Why Do We Gain Weight In Winters? Easy Ways To Avoid It - MSN

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Why Do We Gain Weight In Winters? Easy Ways To Avoid It  MSN

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Wednesday, December 27, 2023

Seasonal Affective Disorder and how to avoid it - Rapid City - KEVN

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Seasonal Affective Disorder and how to avoid it - Rapid City  KEVN

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The worst resume an ex-Disney recruiter has ever seen made this major mistake—how to avoid it - CNBC

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Longtime HR executive and Simon Taylor has seen all kinds of resumes throughout his career. But none compare to one he received for a tech role at Disney during his more than two years as a recruiter there.

"It was, like, five to seven pages long," he says.

Recruiters are typically going to spend "about three to five seconds on a resume before they decide they want to keep going," he says. "So you've got to capture their attention in three to five seconds." If your resume overwhelms them with information, they may pass up on your candidacy pretty fast. Conventional wisdom advises resumes span no more than two pages altogether.

Here's why the resume dragged and how you can avoid their mistakes.

'I don't have time to go through 10 bullets'

One of the major problems with this particular resume was that there were way too many details about each position. "It was about 10 plus bullets per experience," says Taylor.

From the recruiter's perspective, "I don't have time to go through 10 bullets," he says. Recruiters have to go through dozens of resumes and interview dozens of candidates for positions all over the company. If Taylor tried to read more than ten bullets for everyone's experience, "I would fail at my job," he says.  

Plus, with that many bullets, a candidate is "probably including information that's less relevant," he says, and that reflects poorly on their ability to research the role and understand its requirements.

"Update your bullets based on the job description," says Taylor, and include the work that most speaks to the role you're applying for. Include no more than five bullets per experience, with the most recent experiences getting the most.  

'You can't have inconsistency in formatting'

The resume also included "horrible formatting," says Taylor, which probably contributed to its length.

"You can't have inconsistency in formatting in your resume like margins being off and bullets not being aligned," he says. It reflects poorly on your attention to detail.

Recruiters have few data points to go off of to decide if you're moving forward in the interview process. Even something as seemingly minimal as consistent formatting "does have an outsized influence on the perception that the recruiter or the hiring manager has," he says.

When you're writing your resume, make sure your titles, bullets, fonts and sections all match up and everything looks clean. One tip Taylor recommends if you have a lot of experience to include: widen the margins. If you're using Microsoft Word, the layout tab will have a margins option that can do that in a uniform way so your resume remains clean and consistent.

"That way you can get more on one page," he says.  

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What Is Mortgage Fraud and How to Avoid It? - Money

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Mortgage fraud is a serious crime and it can be a major threat to your finances, regardless of which side of it you’re on.

Mortgage fraud refers to a homebuyer lying or exaggerating details on their application to increase their odds of approval on a mortgage loan or to secure a lower interest rate.

But that’s not the only definition: Mortgage fraud also includes crimes when the mortgage borrower is the victim — for example, foreclosure rescue schemes or reverse mortgage scams in which bad actors try to steal money or home equity.

While homebuyers are often the perpetrators of mortgage fraud, it can also be committed by pretty much anyone involved in the real estate business or the mortgage industry, including sellers, builders, investors, real estate agents, mortgage brokers, lenders and third parties who offer fake services.

The Federal Bureau of Investigation (FBI) is responsible for investigating many types of mortgage fraud cases and focuses on schemes run by fraudsters that hurt consumers.

Here’s everything you need to know about mortgage fraud and how to avoid it:

Table of Contents

Common types of mortgage fraud
Tips to avoid mortgage fraud
How is mortgage fraud detected?
How to report mortgage fraud
FAQs about avoiding mortgage fraud

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Common types of mortgage fraud

Mortgage fraud can be broken down into two categories: Fraud committed by mortgage borrowers (often to secure homeownership) and for-profit fraud schemes that prey on borrowers.

Here are some of the different types of mortgage fraud:

Mortgage application fraud

This is one of the classic types of mortgage fraud. Mortgage application fraud refers to borrowers deliberately misreporting their income, assets or debt to lenders and loan servicers.

Application fraud can mean not disclosing credit card debt, a car loan or another mortgage to your lender.

It may also involve doctoring documents or lying on forms to overstate your income, thereby improving your chances of loan approval. In some cases, borrowers come up with fake jobs at fake companies.

This can lead to severe financial consequences, including foreclosure and damage to your credit, if you end up with a mortgage you're not financially capable of paying off. It's also illegal, punishable by up to 30 years in prison and fines up to $1 million.

Mortgage occupancy fraud

Mortgage occupancy fraud means misrepresenting your intent for the home you’re buying to be your primary residence.

Why would someone do this? It’s because lenders usually consider investment properties a higher risk: If it comes down to it, borrowers are likely to continue making payments on the place where they mainly live and fall behind on the payments on the second home.

As a result, mortgage rates are higher for investment properties where you don’t reside at least half the year. It can also be more difficult to qualify for a loan on an investment property, and you may need a larger down payment. But lying to a lender about your plans to live in a home can be a felony, and it’s always a bad idea.

Straw buyer schemes

It’s generally illegal to buy a home on behalf of someone else and not disclose it in the mortgage process.

This type of mortgage fraud usually involves a more qualified borrower (the “straw buyer”) putting their name on the loan application when the intent is for a less qualified person, perhaps a friend or a relative, to actually reside there.

The resident, who may have a low credit score or inconsistent income, would usually give money to the straw buyer to pay the mortgage.

Silent seconds

In this type of fraud, the buyer gets a second loan to pay for the down payment. They don’t disclose the second loan to the lender, and in the lender’s eyes, it looks as if the borrower invested their own money in the down payment.

Foreclosure rescue scams

Moving on to scams that target mortgage borrowers, foreclosure rescue scams prey on borrowers facing financial distress. There are several different types of these schemes, but the gist of them is that scammers offer to “help” a borrower facing foreclosure, but the assistance isn’t real. Victims are then at risk of losing equity in their home or paying for fake services. And they may still end up going into foreclosure because the promise of “rescue” was fake.

Reverse mortgage scams

A reverse mortgage is a way for Americans 62 and older to tap the equity in their homes. Unfortunately, it creates opportunities for fraudsters. Reverse mortgage fraud is when a scammer tricks an older homeowner to take out a reverse mortgage and then steals the funds.

Note: These are just some examples of common schemes. Other types of mortgage fraud include equity skimming, illegal property flipping and home equity line of credit fraud. For more info on other schemes, the National Association of Realtors has resources.

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Tips to avoid mortgage fraud

To avoid committing mortgage fraud as a borrower, the most important thing is to be honest with your lender about your financial information. If you are having trouble qualifying for a mortgage, it’s best to work on your credit, pay off your debt and increase your income.

Don’t try to cheat the system because you could end up in legal trouble and find yourself in debt on a home you can’t afford. Likewise, home sellers and their real estate agents should stay abreast of the pertinent rules related to home selling and fraud to avoid inadvertently breaking any laws.

As far as avoiding mortgage fraud schemes that prey on mortgage borrowers, it’s similar to avoiding any other type of fraud: Keep your guard up, check the credentials of lenders or any other person or entity you find yourself in contact with about your mortgage, don’t give away your personal information to the wrong people and don’t pay for services upfront.

Here are some more detailed tips, sourced from the Consumer Financial Protection Bureau (CFPB), the FBI and the Department of Housing and Urban Development:

  • Be skeptical of anyone who asks you to sign over the title to your home — that’s an instant red flag.
  • Protect your personal information (bank accounts, Social Security number, mortgage account login info, etc.).
  • Don’t trust anyone who tells you to stop making mortgage payments or to make them to someone other than your loan servicer.
  • Be skeptical of promises that you can buy a home without a down payment. (Legitimate zero-down payment mortgages are uncommon.)
  • Don’t buy annuities or invest in financial products pitched by someone purporting to be your lender.
  • Don’t trust strangers with mortgage lending advice.
  • Have your guard up if someone is pressuring you in any way about a mortgage
  • Don’t sign any paperwork you don’t understand.
  • Get referrals to ensure you’re working with legitimate real estate and mortgage professionals and check their licenses.
  • Don’t sign loan documents with blank fields for any monetary amounts.
  • Regularly review your credit report to keep an eye out for identity theft.
  • Practice good password security — that includes signing up for two-factor authentication and generating unique passwords with a password manager.

How is mortgage fraud detected?

Lenders have a strong motive to root out instances of mortgage fraud since they lose money if a home buyer doesn’t make payments because they only qualified for a loan through misrepresentation of their finances.

In the mortgage application or refinance process, lenders look out for signs of possible fraudulent activity like unrealistically high income for the borrower’s stated job.

Fraud detection software tools also help them spot mortgage fraud. With the help of these tools, lenders will try to ensure your identification documents are legitimate and they’ll cross-check the info you submit in the loan application process with other available sources. Lenders may also analyze documents to see if there is evidence they’ve been doctored or modified.

Fraud can be detected long after a loan application is approved. Lenders may decide to investigate if a borrower misses payments, for example.

Lastly, mortgage fraud can be unearthed by local or federal government agencies. Lenders are likely to be the ones to detect fraud by mortgage borrowers trying to gain access to housing.

As far as larger fraud schemes — including those in which consumers are the victims — government authorities are responsible for investigating the criminal actors.

How to report mortgage fraud

If you suspect you’re a victim of mortgage fraud or otherwise come across an occurrence of it, you can submit a report to the FBI by calling 1-800-225-5324. The Department of Justice also maintains a website with additional information if you’d like to report fraud to additional federal agencies.

Local reporting options may include contacting law enforcement or your state attorney general’s office.

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FAQs about avoiding mortgage fraud

What are the different types of mortgage fraud?

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The various types of mortgage fraud are often divided into two categories: Mortgage fraud for housing and mortgage fraud for profit. The first bucket is fraud that consumers commit to access homeownership, like forging their pay stubs to qualify for a mortgage. Fraud for profit includes scams that target consumers, like foreclosure rescue scams.

Is mortgage fraud a felony?

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Mortgage fraud is a serious crime and it can lead to felony charges depending on the nature of the fraud. According to Experian, the maximum punishments for mortgage fraud are 30 years in prison and fines up to $1 million.

How can I avoid committing mortgage fraud as a loan applicant?

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The most important point is that you should never lie about any details in the mortgage application process. That means you should be honest about your income and any debts you have. The legal consequences of mortgage fraud can be severe and misrepresenting your finances to qualify for an expensive home could lead to foreclosure if you aren’t able to make your monthly payments.

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Tuesday, December 26, 2023

What Is Mortgage Fraud and How to Avoid It? - Money

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Mortgage fraud is a serious crime and it can be a major threat to your finances, regardless of which side of it you’re on.

Mortgage fraud refers to a homebuyer lying or exaggerating details on their application to increase their odds of approval on a mortgage loan or to secure a lower interest rate.

But that’s not the only definition: Mortgage fraud also includes crimes when the mortgage borrower is the victim — for example, foreclosure rescue schemes or reverse mortgage scams in which bad actors try to steal money or home equity.

While homebuyers are often the perpetrators of mortgage fraud, it can also be committed by pretty much anyone involved in the real estate business or the mortgage industry, including sellers, builders, investors, real estate agents, mortgage brokers, lenders and third parties who offer fake services.

The Federal Bureau of Investigation (FBI) is responsible for investigating many types of mortgage fraud cases and focuses on schemes run by fraudsters that hurt consumers.

Here’s everything you need to know about mortgage fraud and how to avoid it:

Table of Contents

Common types of mortgage fraud
Tips to avoid mortgage fraud
How is mortgage fraud detected?
How to report mortgage fraud
FAQs about avoiding mortgage fraud

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Common types of mortgage fraud

Mortgage fraud can be broken down into two categories: Fraud committed by mortgage borrowers (often to secure homeownership) and for-profit fraud schemes that prey on borrowers.

Here are some of the different types of mortgage fraud:

Mortgage application fraud

This is one of the classic types of mortgage fraud. Mortgage application fraud refers to borrowers deliberately misreporting their income, assets or debt to lenders and loan servicers.

Application fraud can mean not disclosing credit card debt, a car loan or another mortgage to your lender.

It may also involve doctoring documents or lying on forms to overstate your income, thereby improving your chances of loan approval. In some cases, borrowers come up with fake jobs at fake companies.

This can lead to severe financial consequences, including foreclosure and damage to your credit, if you end up with a mortgage you're not financially capable of paying off. It's also illegal, punishable by up to 30 years in prison and fines up to $1 million.

Mortgage occupancy fraud

Mortgage occupancy fraud means misrepresenting your intent for the home you’re buying to be your primary residence.

Why would someone do this? It’s because lenders usually consider investment properties a higher risk: If it comes down to it, borrowers are likely to continue making payments on the place where they mainly live and fall behind on the payments on the second home.

As a result, mortgage rates are higher for investment properties where you don’t reside at least half the year. It can also be more difficult to qualify for a loan on an investment property, and you may need a larger down payment. But lying to a lender about your plans to live in a home can be a felony, and it’s always a bad idea.

Straw buyer schemes

It’s generally illegal to buy a home on behalf of someone else and not disclose it in the mortgage process.

This type of mortgage fraud usually involves a more qualified borrower (the “straw buyer”) putting their name on the loan application when the intent is for a less qualified person, perhaps a friend or a relative, to actually reside there.

The resident, who may have a low credit score or inconsistent income, would usually give money to the straw buyer to pay the mortgage.

Silent seconds

In this type of fraud, the buyer gets a second loan to pay for the down payment. They don’t disclose the second loan to the lender, and in the lender’s eyes, it looks as if the borrower invested their own money in the down payment.

Foreclosure rescue scams

Moving on to scams that target mortgage borrowers, foreclosure rescue scams prey on borrowers facing financial distress. There are several different types of these schemes, but the gist of them is that scammers offer to “help” a borrower facing foreclosure, but the assistance isn’t real. Victims are then at risk of losing equity in their home or paying for fake services. And they may still end up going into foreclosure because the promise of “rescue” was fake.

Reverse mortgage scams

A reverse mortgage is a way for Americans 62 and older to tap the equity in their homes. Unfortunately, it creates opportunities for fraudsters. Reverse mortgage fraud is when a scammer tricks an older homeowner to take out a reverse mortgage and then steals the funds.

Note: These are just some examples of common schemes. Other types of mortgage fraud include equity skimming, illegal property flipping and home equity line of credit fraud. For more info on other schemes, the National Association of Realtors has resources.

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Tips to avoid mortgage fraud

To avoid committing mortgage fraud as a borrower, the most important thing is to be honest with your lender about your financial information. If you are having trouble qualifying for a mortgage, it’s best to work on your credit, pay off your debt and increase your income.

Don’t try to cheat the system because you could end up in legal trouble and find yourself in debt on a home you can’t afford. Likewise, home sellers and their real estate agents should stay abreast of the pertinent rules related to home selling and fraud to avoid inadvertently breaking any laws.

As far as avoiding mortgage fraud schemes that prey on mortgage borrowers, it’s similar to avoiding any other type of fraud: Keep your guard up, check the credentials of lenders or any other person or entity you find yourself in contact with about your mortgage, don’t give away your personal information to the wrong people and don’t pay for services upfront.

Here are some more detailed tips, sourced from the Consumer Financial Protection Bureau (CFPB), the FBI and the Department of Housing and Urban Development:

  • Be skeptical of anyone who asks you to sign over the title to your home — that’s an instant red flag.
  • Protect your personal information (bank accounts, Social Security number, mortgage account login info, etc.).
  • Don’t trust anyone who tells you to stop making mortgage payments or to make them to someone other than your loan servicer.
  • Be skeptical of promises that you can buy a home without a down payment. (Legitimate zero-down payment mortgages are uncommon.)
  • Don’t buy annuities or invest in financial products pitched by someone purporting to be your lender.
  • Don’t trust strangers with mortgage lending advice.
  • Have your guard up if someone is pressuring you in any way about a mortgage
  • Don’t sign any paperwork you don’t understand.
  • Get referrals to ensure you’re working with legitimate real estate and mortgage professionals and check their licenses.
  • Don’t sign loan documents with blank fields for any monetary amounts.
  • Regularly review your credit report to keep an eye out for identity theft.
  • Practice good password security — that includes signing up for two-factor authentication and generating unique passwords with a password manager.

How is mortgage fraud detected?

Lenders have a strong motive to root out instances of mortgage fraud since they lose money if a home buyer doesn’t make payments because they only qualified for a loan through misrepresentation of their finances.

In the mortgage application or refinance process, lenders look out for signs of possible fraudulent activity like unrealistically high income for the borrower’s stated job.

Fraud detection software tools also help them spot mortgage fraud. With the help of these tools, lenders will try to ensure your identification documents are legitimate and they’ll cross-check the info you submit in the loan application process with other available sources. Lenders may also analyze documents to see if there is evidence they’ve been doctored or modified.

Fraud can be detected long after a loan application is approved. Lenders may decide to investigate if a borrower misses payments, for example.

Lastly, mortgage fraud can be unearthed by local or federal government agencies. Lenders are likely to be the ones to detect fraud by mortgage borrowers trying to gain access to housing.

As far as larger fraud schemes — including those in which consumers are the victims — government authorities are responsible for investigating the criminal actors.

How to report mortgage fraud

If you suspect you’re a victim of mortgage fraud or otherwise come across an occurrence of it, you can submit a report to the FBI by calling 1-800-225-5324. The Department of Justice also maintains a website with additional information if you’d like to report fraud to additional federal agencies.

Local reporting options may include contacting law enforcement or your state attorney general’s office.

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FAQs about avoiding mortgage fraud

What are the different types of mortgage fraud?

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The various types of mortgage fraud are often divided into two categories: Mortgage fraud for housing and mortgage fraud for profit. The first bucket is fraud that consumers commit to access homeownership, like forging their pay stubs to qualify for a mortgage. Fraud for profit includes scams that target consumers, like foreclosure rescue scams.

Is mortgage fraud a felony?

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Mortgage fraud is a serious crime and it can lead to felony charges depending on the nature of the fraud. According to Experian, the maximum punishments for mortgage fraud are 30 years in prison and fines up to $1 million.

How can I avoid committing mortgage fraud as a loan applicant?

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The most important point is that you should never lie about any details in the mortgage application process. That means you should be honest about your income and any debts you have. The legal consequences of mortgage fraud can be severe and misrepresenting your finances to qualify for an expensive home could lead to foreclosure if you aren’t able to make your monthly payments.

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Monday, December 25, 2023

Christmas Weight Gain Is a Common Problem. Here's How to Avoid It. - ScienceAlert

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As Christmas approaches, so does the challenge of healthy eating and maintaining weight-related goals.

The season's many social gatherings can easily tempt us to indulge in calorie-rich food and celebratory drinks. It's why we typically gain weight over Christmas and then struggle to take it off for the remainder of the year.

Christmas 2023 is also exacerbating cost-of-living pressures, prompting some to rethink their food choices.

Fortunately, there are some simple, science-backed hacks for the festive season to help you celebrate with the food traditions you love without impacting your healthy eating habits, weight, or hip pocket.

1. Fill up on healthy pre-party snacks before heading out

If your festive season is filled with end-of-year parties likely to tempt you to fill up on finger foods and meals high in fat, salt, and sugar and low in nutritional value, have a healthy pre-event snack before you head out.

Research shows carefully selected snack foods can impact satiety (feelings of fullness after eating), potentially reducing the calories you eat later. High-protein, high-fibre snack foods have the strongest effect: because they take longer to digest, our hunger is satisfied for longer.

So enjoy a handful of nuts, a tub of yoghurt, or a serving of hummus with veggie sticks before you head out to help keep your healthy eating plan on track.

2. Skip the low-carb drinks and enjoy your favourites in moderation

Despite the marketing promises, low-carb alcoholic drinks aren't better for our health or waistlines.

Many low-carb options have a similar amount of carbohydrates as regular options but lull us into thinking they're better, so we drink more. A survey found 15% of low-carb beer drinkers drank more beer than they usually would because they believed it was healthier for them.

A typical lager or ale will contain less than 1.5 grams of carbohydrate per 100 ml while the "lower-carb" variety can range anywhere from 0.5 grams to 2.0 grams. The calories in drinks come from the alcohol itself, not the carbohydrate content.

Next time you go to order, think about the quantity of alcohol you're drinking rather than the carbs. Make sure you sip lots of water in between drinks to stay hydrated, too.

3. Don't skimp on healthy food for Christmas Day – it's actually cheaper

There's a perception that healthy eating is more expensive. But studies show this is a misconception.

A recent analysis in Victoria, for example, found following the Australian Dietary Guidelines cost the average family A$156 less a fortnight than the cost of the average diet, which incorporates packaged processed foods and alcohol.

So when you're planning your Christmas Day meal, give the pre-prepared, processed food a miss and swap in healthier ingredients:

  • swap the heavy, salted ham for leaner and lighter meats such as fresh seafood. Some seafood, such as prawns, is also tipped to be cheaper this year thanks to favourable weather conditions boosting local supplies
  • for side dishes, opt for fresh salads incorporating seasonal ingredients such as mango, watermelon, peach, cucumber and tomatoes. This will save you money and ensure you're eating foods when they're freshest and most flavoursome
  • if you're roasting veggies, use healthier cooking oils like olive as opposed to vegetable oil, and use flavourful herbs instead of salt
  • if there's an out-of-season vegetable you want to include, look for frozen and canned substitutes. They're cheaper, and just as nutritious and tasty because the produce is usually frozen or canned at its best. Watch the sodium content of canned foods, though, and give them a quick rinse to remove any salty water
  • give store-bought sauces and dressings a miss, making your own from scratch using fresh ingredients.

4. Plan your Christmas food shop with military precision

Before heading to the supermarket to shop for your Christmas Day meal, create a detailed meal plan and shopping list, and don't forget to check your pantry and fridge for things you already have.

Eating beforehand and shopping with a plan in hand means you'll only buy what you need and avoid impulse purchasing.

When you're shopping, price check everything. Comparing the cost per 100 grams is the most effective way to save money and get the best value. Check prices on products sold in different ways and places, too, such as nuts you scoop yourself versus prepacked options.

5. Don't skip breakfast on Christmas Day

We've all been tempted to skip or have a small breakfast on Christmas morning to "save" the calories for later. But this plan will fail when you sit down at lunch hungry and find yourself eating far more calories than you'd "saved" for.

Research shows a low-calorie or small breakfast leads to increased feelings of hunger, specifically appetite for sweets, across the course of the day.

What you eat for breakfast on Christmas morning is just as important too – choosing the right foods will help you manage your appetite and avoid the temptation to overindulge later in the day.

Studies show a breakfast containing protein-rich foods, such as eggs, will leave us feeling fuller for longer.

So before you head out to the Christmas lunch, have a large, nutritionally balanced breakfast, such as eggs on wholegrain toast with avocado.

At the Boden Group, Charles Perkins Centre, we are studying the science of obesity and running clinical trials for weight loss. You can register here to express your interest. The Conversation

Nick Fuller, Charles Perkins Centre Research Program Leader, University of Sydney

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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Fintan O'Toole: It was hard, in 2023, to avoid despair. Yet avoid it we must - The Irish Times

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In April, the European Space Agency launched, from its spaceport in French Guiana, the Jupiter Icy Moons Explorer. Its mission is to explore three of those moons – Ganymede, Europa and Callisto – and in particular to try to figure out whether any of them might contain “habitable worlds”. It was tempting to wonder what a probe sent in the opposite direction to observe Earth in 2023 might conclude. Perhaps that the blue planet is habitable but not for everyone and, if it goes on as it is, not for much longer.

This was a year in which we seemed to be at once hurtling forward and jolted backwards in time. It was the hottest year on record. Global temperatures have not been so high for 125,000 years. The future, in the form of the climate crisis that scientists have predicted for many decades, is now. It is floods in Newry and Midleton, a tornado in Leitrim, the warmest recorded Irish June and the wettest known Irish July – minor blips in a global context but nonetheless visceral experiences of life in the Anthropocene era.

It is the kind of cosmic joke in which, as in Greece, the weather gods first devastated the land with fire and then drowned it in water. It is historic human settlements such as Lahaina in Hawaii and Derna in Libya burned down in wildfires or washed away in catastrophic dam bursts. It is humans living in the chaotic future their rulers could have avoided but chose not to. It is words such as “freak” and “unprecedented” gradually losing their meaning as the extraordinary melts into the predictable.

The only upside of these calamities is that it is increasingly difficult to deny the reality of human-generated climate change, even in a world saturated with disinformation. Floods and fires and storms and weirdly unseasonal weather are horribly persuasive. The 2023 Ipsos Global Trends survey found that 80 per cent of people across the world agree with the suggestion that “We are heading for environmental disaster unless we change our habits quickly.” Even in those countries where climate denial has been strongest, such as the United States and Saudi Arabia, around 70 per cent now accept the truth that humans are responsible for climate chaos and must change their ways urgently.

US support for Israel’s destruction of the civilian infrastructure of Gaza played into Putin’s narrative that the West’s condemnations of his similar assaults on Ukrainian cities are mere hypocrisy

In November, Mary Robinson, as chair of the Elders, clashed with Sultan Al Jaber, chair of the Cop28, over the need to phase out the use of fossil fuels. Al Jaber’s day job is as chief executive of the United Arab Emirates’ state oil company, Adnoc – his hosting of Cop28 was, as the environmental policy expert Cara Augustenborg put it in The Irish Times, “like hosting a Narcotics Anonymous meeting at a drug dealer’s house”.

But it is arguable that Robinson spoke for more people even in the UAE (which is not, of course, a democracy) than Al Jaber did. Two-thirds of those surveyed in his own country agree that disaster is looming without urgent change. Even in the petrostates, reality is biting. Which is why Cop28 was not in the end the complete cop-out many feared and at least managed to reach conclusions much closer to Robinson’s than to those of the big carbon producers.

The sense that we are hurtling into the future without having time to control it is exacerbated by both the pace of technological development and the evident idiocy of some of those who dominate it: most obviously the man-child Elon Musk, whose tantrums and tolerance for right-wing extremism turned Twitter into an X-rated cesspit and burned $25 billion in the process. The vast majority of people globally now agree with the proposition that “the world today is changing too fast”. The consumer-driven optimism that new technologies would inevitably make life better has melted in the heat, not only of climate change, but of technology itself.

2023 was the breakthrough year for artificial intelligence. The release in March of the stunningly effective generative language model GPT-4 felt like a moment of great historical significance, a shift in the nature of human evolution. Yet the company that produced it, Open AI, refused to share many of its technical details with other scientists – so maybe not so open after all. In November it fired its CEO and guru, Sam Altman, claiming that he “was not consistently candid in his communications”, but then reinstated him – moves hardly designed to calm anxieties about whether those who are developing this technology really know what they’re doing.

It doesn’t help that Altman, like many of his fellow tech bros, is a prepper, planning to survive the collapse of civilisation. As he once told the New Yorker: “I have guns, gold, potassium iodide, antibiotics, batteries, water, gas masks from the Israeli Defence Force, and a big patch of land in Big Sur I can fly to.”

It does not seem accidental that arguably the most compelling new serial of 2023 was the post-apocalyptic drama The Last of Us, with its deserted cityscapes, vindicated preppers and roving bands of predators. Or that the movie of the summer (admittedly alongside the more upbeat Barbie) was Oppenheimer, in which Cillian Murphy got to intone its tortured protagonist’s most famous line: “I am become Death, the destroyer of worlds.” Apocalypse seems very now.

In spite of the gloating by the international far right at riots in Dublin instigated by around 200 extremists... Ireland is not, as Conor McGregor claimed, ‘at war’

Yet even as we are careering into the future at breakneck speed, we are also experiencing the whiplash of an equal and opposite reaction. The past is vividly undead. It is a depressing reflection that the most atavistic of world leaders, Vladimir Putin, had a good 2023. Ukraine’s counter-offensive, of which so much was expected, achieved very little: Ukraine made small territorial gains in the south, but Russia took slightly more land overall, mostly in the northeast. Perhaps worse, western attention to and enthusiasm for Ukraine’s struggle began to fade visibly. With no clear idea of the endgame, popular and political commitment to an open-ended war of attrition is hard to maintain. And US support for Israel’s destruction of the civilian infrastructure of Gaza played into Putin’s narrative that the West’s condemnations of his similar assaults on Ukrainian cities are mere hypocrisy.

The delusive reaction of many in the West to the dramatic mutiny of Putin’s one-time sidekick, Yevgeny Prigozhin, in June betrayed a lack of realism. Never mind that Prigozhin was a murderous thug, or that no alternative political leadership emerged to take advantage of the revolt of his Wagner Group – this was going to be the beginning the end of Putin. In fact, the episode (and its violent coda in August when Prigozhin and nine others were killed in a plane crash presumably engineered by the Kremlin) merely underlined the grim continuity of Putin’s firm hold on power.

It was a good year for Putin, too, in giving him reasons to hope that he can rebuild his international coalition of allies, even in the West. His admirer Geert Wilders won the largest block of votes in the Dutch general election. The pro-Russian candidate Robert Fico won September’s election in Slovakia. But most importantly for Putin, his devoted fan Donald Trump is riding high in the polls. He is a strong favourite to win the Republican nomination for the 2024 presidential election and in with a very good chance of beating Joe Biden in a contest that would itself be evidence of the grip of the past: two men who would be well into their 80s at the end of a second term replaying an election fought four years previously.

Trump was indicted four times between March and August: for corporate fraud in Manhattan, for election interference in Georgia, for his role in the attempted coup of 2021, and for stealing classified documents. But not only did the indictments fail to damage his political brand, they seem to have enhanced it. His lawlessness is, for tens of millions of Americans, powerfully attractive. And this, too, is part of a larger crisis in the world: the decline of law.

It was bitterly ironic that 2023 was the 75th anniversary of a great milestone in human history: the adoption at the United Nations of the Universal Declaration of Human Rights. The point of the declaration is precisely its universality – the insistence that people everywhere and “without distinction of any kind” have the same basic rights and freedoms. Only a fool would suggest that it has been honoured consistently since 1948, but it was certainly dishonoured through gross inconsistency throughout 2023.

While the ultra-rich preppers plan to save themselves, we have to combine to save the world

The horrific events in Israel and Gaza showed that very many people who purport to believe in human rights do not in fact do so. Faced with atrocities, they ask: who did this and to whom? They calibrate their outrage according to the answers. For many, Hamas’s murder, rape and kidnapping of Israeli civilians were, at most, qualified horrors. For many others, the collective punishment of Gazans – mostly of children and women – in the most intensive killing spree of the 21st century was a regrettable necessity. The humanity of the victims was not enough. Universality collapsed into tribalism.

Where does Ireland sit in this maelstrom? Largely as a place that can’t quite believe, or cope with, its own luck. In spite of the gloating by the international far right at riots in Dublin instigated by around 200 extremists, in spite of genuine tensions and anxieties generated by the arrival of large numbers of refugees and asylum seekers, Ireland is not, as Conor McGregor claimed, “at war”. It is a stable democracy with full employment and, for now at least, a bulging Exchequer. It has skilfully navigated the threatened crisis of Brexit: the signing of the Windsor Framework in Apriland the collapse of a threatened revolt against it by hardline Tories marked the effective end of that spasmodic enterprise as a viable political project.

Ireland is not, of course, immune from the effects of global crises. But its primary problems are those caused by the mismatch between a dynamic society on the one hand and a sclerotic system of planning and governance on the other. Housing, transport and even basic infrastructure such as sewerage are utterly inadequate to the demands of a growing population. Inequalities of social class and gender have been allowed to fester. Serious discussion on crucial long-term issues such as the restructuring of the taxation system have almost no purchase on the political world.

It was probably RTÉ's bad luck that its troubles, mostly self-inflicted, could be seen as a microcosm of these wider failings in the public realm. Other countries might envy the idea that the misreporting of the earnings of a star TV and radio presenter (Ryan Tubridy) could entrance the nation and have it glued to meetings of Oireachtas committees – we had little, they might think, to be worried about.

But the saga revealed a culture of entitlement, a carelessness with public money and some rank bad management of the provision of a vital public service that were by no means unique to the national broadcaster. It raised questions (so far unanswered) that could and should be asked of many other public bodies: what are you supposed to achieve, what do citizens have a right to expect, and how are their resources being used to enhance their lives?

Even in a country that has been shielded from the worst effects of climate chaos, war, the subversion of democracy, uncontrolled technological change and the decline of respect for law, it was hard, in 2023, to avoid despair. Yet avoid it we must. The scale of the change that is required has never been clearer: the phasing out of fossil fuels, the redistribution of the fruits of economic growth away from oligarchic elites and towards ordinary citizens, the harnessing of new technologies for the common good rather than for the elevation of yet more power-crazed overgrown teenagers, the deepening and reinvigoration of democracy with new systems of engagement and accountability.

But all of these changes have to be fought for. 2023 made it starkly obvious that this is a fight, not just for a better world, but for a habitable world. It’s a fight, not just for justice, but for life. While the ultra-rich preppers have their guns and gold, their gas masks and their remote ranches to escape to, the rest of us have the power of collective action. While they plan to save themselves, we have to combine to save the world.

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