Protect Yourself from Deed Fraud and Real Estate Deed Scams
Fraud comes in all forms; Deed Fraud (scam), property fraud, real estate property fraud, mortgage fraud, and many more. In most cases, the fraud happens online where the scammer or crook can’t be traced.
The scammer will often sell the property in the black market or to a family who is completely unaware they are being sold a home that belongs to someone else.
The pros at the company “Local Records Office” in Los Angeles, CA investigates deed scams and property scams.
What is Deed Fraud?
Deed fraud usually happens when the fraudulent deed is recorded against a property, in the majority of the cases the property owners are not even aware that the name has been changed.
Many homeowners think that because their “deed” is locked in a security safe somewhere it’s safe from deed fraud but little do they know, it really isn’t.
Local Records Office in Bellflower, CA say, “In most cases the crooks don’t necessarily need to have the deed in their procession. The thieves could easily order a copy from the county the property is located and after receiving it they will change the name on the deed or sign it off to someone else.”
The crooks behind the deed fraud are so good that the majority of the time they don’t even have to leave the comfort of their homes. This is why it’s so important to keep up with it.
Deed fraud is a serious crime with many years of imprisonment and fines but unfortunately, it’s becoming easier to commit. The thieves are usually driven by greed, money, and power. One successful sale of a property with a fraudulent deed will make them over $100,000 in only one transaction. This will easily add up since they will try to scam the most people they can.
What Can You Do To Prevent Deed Fraud?
- The majority of counties in the United States have record offices where you can register for the Records Documents Notification Program online to be notified is any changes were made to your deed.
- ACRIS is a system that is used by many city records offices that checks that there are no other deeds or mortgages on your property that you may not be aware of. ACRIS system is the most popular system used to check for deed fraud.
- Deed fraud could happen in many ways. Another way to prevent your self from being a victim is to check your unoccupied property for any squatters. Squatters will break-in and live in the property illegally. Since many laws protect squatters like they protect tenants you could be in for a long legal battle ride.
- Prevent mail from piling up in your front yard; this screams out “come steal my mail and letters.”
- Report any type of deed fraud immediately
What is Property Fraud?
Property fraud or real estate fraud is a fast-growing crime that many scammers use to change, forge, and change deeds making it appear like they own a property that they don’t own.
According to reports from the FBI, property fraud is one of the fastest-growing white-collar crimes in the United States right next to identify theft. The most common way scammers are doing property fraud is by renting out a house and then collecting monthly rents and security deposits.
Another way property fraud is made is by faking a deed and then selling the property. Property fraud is very similar to deed fraud. The only difference is that property fraud could be an entire lot or land and deed fraud could be just the deed and property.
Many counties all across the United States offer free property fraud alerts. To learn more about these free services visit your local records office.The United States had a 5% increase in a property scam in the past 2 years alone. The most common property crime is a scam, fraud, rip-off, and blackmail.
These types of fraudulent crimes come in all sorts of ways including; mail letter, tampered deeds, stolen deeds, and or identity.
Identity theft could easily lead to property fraud. The crooks will change the name on the deed and sell the deed and get credit cards in the victim’s name, most of the time without the victim knowing.
If you see a drastic change in your credit score go ahead and check it with the FICO website.The pros at Local Records Office take the deed and property fraud very seriously and helps new homeowners with any questions they might have.
Local Records Office will usually contact or send a letter to the homeowners. The letter will offer a service to learn more about their neighborhood and provide a paper copy of their deed.