Call it the next wave of the foreclosure crisis. Scam artists, posing as landlords, hoodwink prospective tenants, absconding with their rent and deposit money.  

In California, where vacant, foreclosed homes glut the marketplace, law-enforcement officials and legal aid clinics have seen a spike in landlord-impersonation cases over the past few years. 

Here's how the scheme works: scam artists descend upon foreclosure properties, which remain empty for extended periods of time. They change the locks, advertise the property on Craiglist at an attractive price, then prod prospective tenants with high-pressure tactics, telling them they need to come back soon with cash for the deposit. Unwitting tenants comply, sign the lease and move in, only to confront the legitimate owner a few days later. Many victims pay in cash — confounding efforts by law enforcement officials to track the scammers — and never recoup their losses. They're out on the street and out all that cash. 

California Assemblywoman Fiona Ma has sponsored a bill to treat landlord impersonation, currently a misdemeanor under California law, as a felony. Send a letter to your representatives encouraging similar action to protect consumers during an especially difficult economic period.

Photo credit: Jeremy Burgin