User Panel
Posted: 8/11/2020 1:49:57 PM EDT
Hear the ads about this all the time. Does anyone know someone this has happened to?
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Bill O'Reilly thinks it is a real thing. I can see something like this happening but being rampant, I don't know.
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A very large part of my practice is real estate closings. I have not encountered first hand an occasion of such.
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If they're promoting the title theft insurance policies so heavily, there is obviously lots of money to be made from the policies since it happens so rarely.
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How to Protect Your Home From Deed Theft
You don’t need to pay a company to protect you from criminals who put their names on your home title. You can protect yourself for free with these steps. https://www.kiplinger.com/article/real-estate/t048-c050-s002-how-to-protect-your-home-from-deed-theft.html And what the sellers of the title theft prevention services aren't telling you: https://www.sbnonline.com/article/the-myth-of-title-theft-what-providers-of-protection-against-it-arent-telling-you/ |
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Happened to someone I know. Her and her husband had their mortgage through Well's Fargo.
They owned their home for over ten years, were never late or behind with payments. Well's Fargo sold their home out from under them and got away with it scott free. Gal I'm speaking about ran for Sheriff four years back, story made it in the local news but only because the acting sheriff at the time said he would help enforce kicking them out of their home even knowing what was going on. At the time it was found that Well's Fargo had done this to a lot of other home owners. |
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Quoted: Happened to someone I know. Her and her husband had their mortgage through Well's Fargo. They owned their home for over ten years, were never late or behind with payments. Well's Fargo sold their home out from under them and got away with it scott free. Gal I'm speaking about ran for Sheriff four years back, story made it in the local news but only because the acting sheriff at the time said he would help enforce kicking them out of their home even knowing what was going on. At the time it was found that Well's Fargo had done this to a lot of other home owners. View Quote Wow. I do know that banks, especially BofA foreclosed on and sold people's homes during the 2008 mortgage chaos, even though they didn't have a mortgage with them. Pretty much all were former customers that had either paid their mortgage off entirely or went to a different company. |
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I know of an incident from the 90's in DC. I wasn't directly involved, but I knew the guys who were renting the house from the thief.
The legitimate owner was an elderly black woman, had it free & clear, but was in a mental institution. The thief forged some court docs, got it transferred through a third party then "bought" it from the 3rd party. Don't know about the specific mechanisms the thief used, but it was a pretty sad case. The woman was in for a temporary issue, had her house stolen, then the complaints about her house being stolen were used to involuntarily extend her stay. At the end of it, the thief wound up in jail, big fine, but the woman got a busted up house back with all her possessions gone. |
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A newbie lawyer here did the closing on a house here for an “ heir” of a lady who “died”. But the lady didn’t die, the attorney just did absolutely zero due diligence. So he closed the deal and had the deed redone in the heir’s name. The lady who owned the house was living in Europe at the time and she came back to find out her house was stolen. So they sued the lawyer and sought to have the house re-deeded in her name. That lawyer got fucked hard and rightfully so. I didn’t follow the case beyond the lawsuit so I don’t know how it wound up.
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Quoted: A newbie lawyer here did the closing on a house here for an “ heir” of a lady who “died”. But the lady didn’t die, the attorney just did absolutely zero due diligence. So he closed the deal and had the deed redone in the heir’s name. The lady who owned the house was living in Europe at the time and she came back to find out her house was stolen. So they sued the lawyer and sought to have the house re-deeded in her name. That lawyer got fucked hard and rightfully so. I didn’t follow the case beyond the lawsuit so I don’t know how it wound up. View Quote Is it possible to find out? I'd love to hear the outcome. |
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It happens because when folks get caught they aren’t hung immediately or burned alive
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Not going to happen when I have two different banks with security interests in the property.
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There was a group in Illinois that was doing it.
1. They found out someone was going on vacation. 2. Would file the title transfer paperwork and pay the transfer taxes. 3. They'd go in. Clean it out mostly out. Change locks and then rent it as furnished out to associates. 4. Then put it up for sale at half price. People would come home from vacation to a for sale sign, and renters in the house. Cops would show up and say valid rental agreement, this is a civil matter for the courts. In the mean time, they are selling the house. RR |
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Quoted: There was a group in Illinois that was doing it. 1. They found out someone was going on vacation. 2. Would file the title transfer paperwork and pay the transfer taxes. 3. They'd go in. Clean it out mostly out. Change locks and then rent it as furnished out to associates. 4. Then put it up for sale at half price. People would come home from vacation to a for sale sign, and renters in the house. Cops would show up and say valid rental agreement, this is a civil matter for the courts. In the mean time, they are selling the house. RR View Quote Drastic measures are called for then |
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How does one steal title and record it? You need the signature of the title holder (or the mortgage company/bank/lender that holds the lease).
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My FIL is a Real Estate attorney.
Our BF's are title company owners. My wife is a Real Estate broker who has owned and operated a big national brokerage name with 250+ agents... None of them have heard of home title theft. |
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Quoted: I don't remember the name of the lawyer, but I googled for what I remember about the case and didn't come up with anything. View Quote View All Quotes View All Quotes |
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I watched this story on the local news about this industrious entrepreneur
https://www.google.com/amp/s/www.wfaa.com/amp/article/news/local/investigates/fake-deeds-allegedly-filed-from-prison-to-steal-north-texas-properties/287-296c406b-ee84-49b4-be9e-13be14988c6a |
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I've seen it one time and I've examined property title on hundreds of tracts of land as part of my job in oil and gas.
It was a sibling screwing his dying sister's spouse. |
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It is rare because messing with where someone’s family stays leads to mysterious disappearances.
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I have seen it more than once in Dade Co. They crooks file false paperwork with the Clerk of the Court. Maybe a quit claim deed, can't remember. The elderly lady goods were moved the sidewalk and she was evicted. It made the news, showed lady sleeping on bench in front of her house. Clerk of the Court said oops my bad we won't do that again. I have seen other similar stores on the news. But this place is a shithole where thievery and larceny are hobbies.
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I'd be more concerned with Robot Insurance, against “the unfortunate event of a robot attack,” without requiring a health checkup.
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I literally got someone's title in the mail today. Same address, one street over. I walked it over to him cause I'm a good neighbor.
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Quoted: There was a group in Illinois that was doing it. 1. They found out someone was going on vacation. 2. Would file the title transfer paperwork and pay the transfer taxes. 3. They'd go in. Clean it out mostly out. Change locks and then rent it as furnished out to associates. 4. Then put it up for sale at half price. People would come home from vacation to a for sale sign, and renters in the house. Cops would show up and say valid rental agreement, this is a civil matter for the courts. In the mean time, they are selling the house. RR View Quote That would quickly become a criminal matter. |
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Sovereign Citizens will attempt it as a paper attack against Police and other officials who challenge them.
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This happened to several homeowners in Scottsdale some time back. IIRC the perps were from the UAE, or some such place. Rare yes, does it happen, indeed. |
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It’s real and I believe it happened to a GD member last year.
He wired his down payment to a scam routing number and the title company never received the money. Usually occurs within 24 hours of closing. |
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Quoted: Quoted: Not going to happen when I have two different banks with security interests in the property. Hopefully one of them isn't BofA. Nope. I will never do business with BofA after the way they tried to screw me over on my ex-wife's delinquent credit card. |
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Quoted: It’s real and I believe it happened to a GD member last year. He wired his down payment to a scam routing number and the title company never received the money. Usually occurs within 24 hours of closing. View Quote That's a different matter. That wire fraud and it happens all the time. Nobody stole the title to the property, they just stole the money. |
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I've heard of people having their homes forcibly sold due to HOA leans, sometimes for BS amounts.
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Had a problem in RE about a decade ago. Agents were getting their email hacked. Right before a closing, the title company would get instructions to send the money to a different account than the one earlier. Problem is that it wasn't the agent doing this, but hackers.
The sale would be funded but the money would simply disappear off shore. It caused real problems to a lot of people until agents tightened up their system of giving instructions to title companies. |
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https://www.youtube.com/watch?v=x-sH_JMbpGA
edit: The hall of shame dude is awesome and this video is pretty interesting/relevant |
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Funny how many here know it to be true but can't recall facts about it.
Just an observation.. |
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My brother's friend was waiting in line at the Title Theft insurance office, but the line was too long so he left.
Two days later, they sent him a policy in the mail! |
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Quoted: There was a group in Illinois that was doing it. 1. They found out someone was going on vacation. 2. Would file the title transfer paperwork and pay the transfer taxes. 3. They'd go in. Clean it out mostly out. Change locks and then rent it as furnished out to associates. 4. Then put it up for sale at half price. People would come home from vacation to a for sale sign, and renters in the house. Cops would show up and say valid rental agreement, this is a civil matter for the courts. In the mean time, they are selling the house. RR View Quote Hahahaha try that shit here and see |
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