What do scam artists gain from equity skimming?

Scam artists involved in equity skimming primarily target properties with negative equity or those in distress. They often convince homeowners to sign over the properties, usually through deceptive means, while continuing to collect rental payments from tenants residing in the properties. They may oust the original owners or take over as if they are the legitimate owners, collecting rents while neglecting mortgage payments or property upkeep.

This method provides a consistent flow of income through the rent collected from tenants—income that the scammer does not need to share with the original property owner, as they have deceived them into relinquishing control over the property. Therefore, the steady income derived from unpaid rent is a primary objective of equity skimming schemes.

The other options touch upon aspects of real estate transactions but do not correctly encapsulate the primary financial motivation behind equity skimming. For instance, excess funds from overappraised properties or access to multiple properties could lead to certain advantages, but do not represent the core gain from equity skimming, which is fundamentally about exploiting rental income from properties while evading financial responsibilities.