How A Scammer Can Steal Your Home
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- เผยแพร่เมื่อ 1 มิ.ย. 2024
- Home title fraud is where a criminal steals a home by forging a deed. They then illegally transfer ownership of the home without the real homeowners permission. It is essentially where a fraudster steals your home and either sells it or takes out a loan against it without you even knowing about it. When the mortgage is not paid, the property enters foreclosure.
The scammer first finds a property they want to steal, typically one with equity in it. They will then forge documents that transfer the ownership of the house to themselves. After they file the documents with the proper authorities, they now have legal ownership of the property. They then sell the property to unknowing third parties or take home equity lines of credit (HELOC) against the property and don't pay it back. Some criminals have also taken multiple mortgages against the property.
Tiffany Webber is a real estate attorney and owner of Thomas & Webber, a real estate law firm in Mooresville, North Carolina. They handle both commercial and residential real estate closings, estate planning, and business formations.
If you'd like to work with Thomas & Webber, please email info@thomasandwebber.com
00:00 - Deed Fraud
00:30 - How it Happens
02:30 - How to Prevent It
03:48 - Title Insurance? - บันเทิง
A hypothetical scenario: Let’s say I as a careless property owner, someone was able to forge my signature and property documents. Then this fraudulent person sold my property to someone or got a cash loan on my property. Legally, as the rightful owner, I should not and could not be held liable. Right? It is the buyer who fall for such a deal. Right? Or am I missing something?
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Great information here, thanks. I'll be setting up Google alerts for my property today.
Smart
Thats a great idea, there is a company call title lock...the issues with these 2 is that, both alerts are after its done. Which means now you have to go to court and blah blah blah....
Bitcoin blockchain 'secure property title" is coming soon!
This is due to the USA's archaic property registration system.
Most countries have much tighter knots to go through to transfer property.
Great job Ms Webber..Keep smiling n teach8ng your fellow citizens..mucho gracias..
This was wildly explanatory; thanks for taking the time to put this together!
Very informative and nicely done. Thank you!
This happens. I know an owner who had 50 properties stolen at once. Yep. Fifty.
Unfortunately, I know of too many homeowners across the country that have gone down this rabbit hole for decades and still lost everything. We’re given the wrong people too much unsupervised power - including some misguided attorneys.
Thank you for this very valuable and useful information.
A couple of questions -- (1) isn't "freezing" your credit reports (with Equifax, Experian, & Transunion) a big step to preventing most property scams? I don't envision scammers getting an equity line of credit or a cash-out refinance against your home or property, if your credit reports are frozen. (2) to what extent would freezing your credit reports also protect you against scammers trying to sell your home (with no mortgage) from under you?
My mortgage never showed on my credit report. Red flag right there. This is a very sophisticated process; not easy to unravel especially in the beginning.
And nobody hypothetically got shot in your hypothetical scenario?
Maybe claim ownership of the address in Zillow, if the property has an address.
Thanks for the info - this is always a concern to me as well.
Is part of the reason this is becoming more of an issue, is because of minimal criminal penalties for those that engage in the thefts?
It’s not even a crime in too many states. It’s a civil matter. It’s easier to steal a home than it is a car! This is rampant and no one wants to get involved and/or help!
Maybe. I think it's more like they know they have a 99.9% chance on not being caught in the first place.
Yes!! Look at Patrick Soros. After all the homes he stole, his only charge was wire fraud! The fines for forging, fabricating docs are minimal
? If the bank i have my mortgage contract with sales the note to my home or property to an investor or bundled with other mortgage notes to an investor do they own my property? Do they have the UCC1 filed with the state i reside in? Does my signature create the debt these investors are investing in? My opinion is A lot of wait! what? kind of things go on in a contract.
Is a Lien placed on the property if someone takes out a line of credit? Or is it only found through checking your credit report.
I recently paid off my mortgage and the credit union sent me confirmation of the transfer of ownership. They promised me that the county would send me the deed in the mail. Once a have the deed, am I immune to this sort of theft?
The way I understand it is No. The scammer will pose as you and sell your house. A new deed will be made out to the new buyer.
Not cool
Not at all bro
Use an LLC to equity strip the parcel.
This guy forged a quick sale stating my elder signed a quick sale on the land the very same day he crossed over. In 2023
👍
Ok lady, I understand you are making videos to collect money from Google for as many people watch them. But you are also scamming the public to make them purchase an extra title insurance which they don't need. Shame on you.
Title companies conduct a thorough search on buyer and seller before processing a file for sale of a property. On top of that, they sell the buyer a title insurance. Also, there is a realtor involved on each side and in most state there is a lawyer. So again, shame on you and the shame on the university that certified you.
This is one of the most uninformed comments I’ve ever gotten.
First, she doesn't make money from Google, it's TH-cam. After a million views she might have enough to buy a cup of coffee.
Second, Title companies are lazy and can miss things (ask me how I know).
Third, not all real estate transactions involve a real estate agent.
Fourth, did you miss the part about people forging documents to get a line of credit or loan?
@@blabla9845 You Tube is google. If the title company miss then they have malpractice insurance you could easily collect from them. Also, If people forge documents then you could just ask the bank that lent money to them to show you these documents and dispute them.
All in all, there are insurance companies trying to sell extra policy through scaring people.
Tell me you didn't watch the video without telling me you didn't watch the video. The entire point was about how easy it is to lose your title over simple forgery. She merely mentioned that title insurance helps a buyer purchasing from a phony owner...in a STOLEN TITLE situation. Never once talked about a normal real estate transaction.
@@blabla9845While wrong about nearly everything else, they aren't wrong about TH-cam/Google. Same company.
Modi has done the same to Indians 😂
A hypothetical scenario: Let’s say I as a careless property owner, someone was able to forge my signature and property documents. Then this fraudulent person sold my property to someone or got a cash loan on my property. Legally, as the rightful owner, I should not and could not be held liable. Right? It is the buyer who fall for such a deal. Right? Or am I missing something?
The buyer would own the property that was once yours legally until proven in court it was a fraudulent deal. How long will this take? days, months. years. The person frauded may even die of old age. Court sucks, I stay far away from it.
You’re missing a lot of information. Some which is truly disturbing and difficult to process - esp as it relates to who is involved, how they’ve gotten away with this for so long…..The corruption runs deep. 99% of victims are NOT irresponsible but victims caught up in a viscous crime - that most states consider a civil matter. How can having your home stolen NOT be a crime? Yes - many Registry of Deeds, Land Records, offer a “service” notifying a/o if any docs have been filed but they’ll do nothing further. Same with any of our ABC agencies. This needs to end. So many of our seniors have been targeted. Imagine working your whole life, paying off your mortgage and having everything taken from you?
So true! Our entire justice system has failed us as it relates to these crimes.
This should fall under the Title company, Financial institution, and the government office that failed to do their research. Three entities that are supposed to be filters and also ensure the process is done legally.
@@VAlcookie7 - Yes; it SHOULD fall under title companies, mortgage subservicers, AGOs, but they turn a blind eye.