A few weeks ago, it was brought to my attention of a scam that a fellow REALTOR here in Oklahoma City shared with us on a facebook group post. Here is the post shared,
This is just the beginning of what we refer to as deed theft, when someone steal's the homeowner's identity and signs over the title without the homeowner's knowledge or approval. What we are seeing is homeowners are duped into believing the documents involved in stealing their deed are actually for financial assistance. The most common ways deed theft happens are through forgery—a homeowner's signature is faked and filed with a county clerk, and fraud. Deed theft criminals will hide behind limited liability companies making it difficult for homeowners to decipher. What's in it for them? They sell the home and get the proceeds IF they don't get caught. The worse part is what happens when the criminal pulls out the loan and gets the money, then doesn't pay on it and then the home is foreclosed on and the Homeowner is evicted without ever knowing what is going on. The best way to prevent this from happening to you is by being proactive. This has been a growing concern in the real estate community. How can Realtors help protect our Homeowner Clients from becoming victims?
First step, raise awareness.
Second step, sign up for the Property Alert System through the Oklahoma County Clerk site. It will send an automatic alert whenever any document is filed that will affect the registered account holder. Notices can be sent through text, email, or a telephone call.
Third Step, get your free annual credit report and check for any new loans you are unfamiliar with.
Fourth Step, get your home in a TRUST. If you need an Attorney to set up a Trust for you, I have a great contact for a real estate attorney, just reach out!
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