With so much information available online and with so many more real estate transactions handled digitally, criminals find it easier to defraud homeowners, especially those who are not internet-savvy. In 2017, an estimated 9,600 victims lost over $56 million to title fraud schemes. Title fraud was once a rare crime, but the FBI now calls it a growing problem. Is This New Fraud a Real Threat to Homeowners? Criminals are perpetrating it in California in growing numbers. It turns out that the District Attorney was all too familiar with this scam. This sophisticated scheme involved the title company, the lender and a stolen notary seal. PLP partner Kim Leding successfully settled a complicated case of title fraud that was set for trial involving a Southern California “quiet title action.” The fraudsters forged our client’s signature and the notary signature on a deed transferring our client’s real property into the thief’s name. Poniatowski Leding Parikh Reach Settlement in Southern California Title Fraud Case It can take your real estate attorneys months to undo the damage. Homeowners can be completely unaware of this until the lender tries to foreclose on the home. Then, the criminal tries to use your home’s equity to secure as many loans as possible. Title fraud occurs when someone obtains the title to your home through fraudulent methods. Home title fraud (also known as “deed fraud”) is different from mortgage fraud. Home title fraud earned the “latest scam” label from the FBI back in 2008.
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