LOS ANGELES, CA – Real estate deed fraud costs Americans more than $500 million every year. According to the Local Records Office in Los Angeles, California, Americans all over the United States are victims of some sort of real estate fraud. The rise of online scams has become a lot easier. In 2009, the FBI identified “house stealing” as the “latest scam on the block.”
Homeowners across the United States are being victims of deed scams, the main cities getting hit by house stealing also known as real estate deed fraud are Los Angeles, CA, Albany, NY, Tallahassee, FL, Harrisburg, PA, Pekin, IL, and Carson City, NV. According to the FBI, it’s a growing problem for homeowners that keep on growing drastically every year.
Online companies claim to “protect your home from criminals” but unfortunately, that’s bogus too.
Local Records Office Urges Homeowners to Take Action Against Deed Fraud and Real Estate Scams
Local Records Office urges homeowners to take action against deed fraud. Most real estate scams are simple; crooks will target vacant homes, vacation homes, foreclosed homes, second homes, and even vacant condos to carry out their scheme. The con artist will find information online or from local real estate agencies. Personal information can also be purchased online on the deep web.
On the deep web, crooks will purchase personal information like social security numbers, fake identification cards, and even drugs. With that information the con artist will pretend to be the homeowner by obtaining a fake driver license or identification card, they will file paperwork with the local county’s register of deeds to transfer ownership of the land or house to themselves or someone else who is most likely aware of the arrangement.
Another way scam artists attack buyer is by setting up fake web pages that look like the real deal to lure people. Local Records Office says, “Crooks all over the place and they will attack when you least expect it, so don’t wait until you’re a victim”
Real Estate Deed Fraud Happens Faster Than You Might Think
By the time the original property owner is aware of what is happening the property has been sold two to three times. At this time the sheriff or police might be knocking at their doors telling them to leave the premises.
Other times crooks will sell the property and keep the equity all long as the house is falling behind on payments and at the risk of falling into foreclosure. When homes fall into foreclosure, they are extremely hard to recover.
“Being a real estate victim is a position that no one wants to be in it is also a major setback since it affects homeowners’ assets, credit score, and even the future. To make things worst there is only a small chance a victim can get his or her money back. In most cases, the scammer will use accounts with a stolen identity that is rarely traceable” says, the Local Records Office.
What Are Rental Scams?
Rental scams have been around since landlords started posting online. The scam has changed a bit since then but the catch is the same. The scammer will post on social media and or Craigslist an ad that sounds too good because it is. The ad will have a 3 to 4-bedroom apartment or house for half the price of the apartment of the same size in the area.
This scam has been featured on news outlets for years so many people have heard about it but folks keep getting caught up in it. It started that the scammer wanted the first and last month’s rent and a security deposit but crocks figured out that it was too much for a lot of people. The scam now is to get the victim to pay a deposit to “secure” the rental. The amount is much smaller but a lot more people can pay that amount.
Avoid this scam by seeing the property first and asking for a property management company and searching online if they’re legit. Going personally to the property management in person will be a lot better.
Online Companies Over Bogus 24-7 Title Prevention Plans
There are online services that over “title fraud prevention services” for around $9.99 to $14.99 a month, that’s an average of $119 to $179 a year. The bad part of services like these is that they’re completely bogus. There is no way companies like these can prevent deed fraud.
The best way to protect yourself and your home is to periodically monitor your property record online. Online companies like the Local Records Office offer services that do an in-depth report along with a copy of the deed. These in-depth services might not prevent real estate deed fraud but they will help you obtain up-to-date structure tools that will help homeowners know more about the property. Property owners use this information to go over with an attorney to be guided on the dos and don’ts.
Something Might Be Wrong When
Property owners might have an idea when they receive a gas or electricity bill each month so something might be wrong when the monthly bills stop coming in. This means that the name(s) on the account of the utility bills has been changed.
As soon as you notice a change you need to contact the sheriff’s department immediately.
The Coronavirus Pandemic is the New Hot Spot for Scammers
The coronavirus pandemic has not only brought death, sickness, and economic loss but a high rise in scams. The Federal Trade Commission has reported that over 300,000 fraud report cases have been claimed since early 2020. The Employment Development Department has also been hit hard by fraud across the United States.
Company Name: Local Records Office
Contact Person: Roberto Romero
Email: Send Email
Phone: 1 (800) 790-0721
Address:2202 S. Figueroa St. #406
City: Los Angeles
State: CA 90007
Country: United States