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This ad runs all the time on Fox. A guy forges your deed, takes out four mortgages, you get collection notices and then you're evicted from your own home. But you can protect yourself if you pay for this service. I don't know if this really happens or not. Seems like a scare tactic for an unnecessary service. I've gotten mortgages/HELOCS before and the amount of documentation required by the bank is tedious. Even if the bank did give a loan to a fraudster pretending to be you, why is that your problem? You did nothing wrong. The bank screwed up in this scenario, not the homeowner. Seems like a scam to me. I could be wrong. Anyone know anything about this type of fraud?
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That's always been my experience & assumption, the lender vetts the applicant 6 ways from Sunday. And are deeds or titles online to be accessed and hacked?“The only thing necessary for the triumph of evil is for good men to do nothing” -
It happened to a neighbor of mine on a piece of land. It took a while but she got it straightened out. These things ARE online these days. Many counties and towns offer a service. They will notify you immediately before any transfer in title goes thru. I wouldn't pay for this , life lock or any similar service..Comment
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The chat bot says:
"The statistical likelihood of a homeowner becoming a victim of fraudulent transfer of their home's title to a criminal can vary depending on a variety of factors, including the location of the property, the value of the property, and the overall prevalence of title fraud in the area.
However, it's worth noting that title fraud is relatively rare. According to the FBI's Internet Crime Complaint Center (IC3), in 2020, there were only 13,638 reports of real estate fraud across the entire United States. While this number may not capture all instances of title fraud, it does suggest that the risk of becoming a victim of this type of fraud is relatively low.
It's also important to note that services like Home Title Lock may not be necessary to protect against title fraud. Many homeowners can take steps to protect their titles themselves, such as regularly checking their property records for suspicious activity and placing fraud alerts on their accounts. Additionally, some states have implemented measures like requiring notarized signatures for title transfers, which can help prevent fraudulent transfers from occurring in the first place."
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Title lock should be unnecessary in most states. It’s the mortgage company who is on the hook if they scan them. It’s why title search companies and title insurance is done before closings on house sales.Comment
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But some of us are happily free and clear in our golden years. I check my tax bill online once a quarter.Originally posted by Pensiontheif View PostComment
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Not the real owner’s mortgage company but the fraudster’s or the person they sell it to.Originally posted by CoopingProne View Post
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Similarly, on occasion I get mail from “American Water Resources” wanting to insure the water pipe coming off the street main into the house in case it breaks! When’s the last time THAT happened? This also goes along with “appliance” insurance, extended warranties, etc. - all money making gimmicks that serve no useful purpose other than to pad the pockets of the solicitor(s). 🤨
I would never raise my voice because it’s frightening to people. Instead, I would calmly state "my name is Kenda from the Police Department; you are under arrest for murder. If you don’t do what I say, I’m gonna kill you right here, right now!" - Lt. Joe Kenda - Homicide HunterComment
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My County in PA has a system to prevent this for free with the Recorder of Deeds. I believe many municipalities offer this. Here is the page as an example:
The Bucks County Recorder of Deeds office is now offering the new Bucks County Fraud Alert System to all residents of Bucks County. The Fraud Alert System will be free to anyone who would like to sign up for the service.
If you sign up, you will receive an email from the recording vendor, LANDEX, alerting you anytime a document has been recorded in the office against your name. Businesses are also welcome to sign up for this service.
Dan hopes this free service will go a long way in helping residents to not fall prey to predatory businesses that want you to purchase a costly service that monitors property records. There is no need to pay an outside group a high monthly fee to do this for you. Especially, when the Bucks County Recorder of Deeds office can help you do it for free! Sign up Now
Retired NYPD Detective. Retired Police Officer in a small Township in PA.Comment
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I get those too; a scam like the title lock one. But, I wish there was one that would insure my frequently overflowing cesspool. I would sign up for that one.Originally posted by Joe Kenda View PostComment
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I couldn’t take a dollar of equity out of my home until I jumped through 23 hoops and did a few dog tricks. Home title lock is a scam up there with my pillow 2.0, balance of nature and Rosland Capital.Last edited by PressurePointCop; 03-18-2023, 08:17 PM.Comment
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But they keep talk radio alive. But not on my dime. When anything is that heavily promoted, it's overpriced.Originally posted by PressurePointCop View Post
Oh , you left out 'name a star' scam. That's a real bargain!Comment
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Check this out, the comments section is good.
Last edited by fla2760; 03-18-2023, 12:54 AM.Signature.
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"Before I formed you in the womb I knew you"Comment
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Suckers are born EVERY minute!! 😙Originally posted by fla2760 View Post
I would never raise my voice because it’s frightening to people. Instead, I would calmly state "my name is Kenda from the Police Department; you are under arrest for murder. If you don’t do what I say, I’m gonna kill you right here, right now!" - Lt. Joe Kenda - Homicide HunterComment
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You expressed my exact thoughts on this perfectly. Why should a homeowner be on the hook if a bank fails to perform due diligence?Originally posted by Pelhambay View PostComment
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