Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Monday, November 09, 2015
County Recorders Continue Offering Free Document Monitoring Service In Effort To Alert Property Owners Of Possible Fraudulent Filings Against Their Real Estate
In Benton, Arkansas, the Hot Springs Village Voice reports:
Property and mortgage fraud are a growing problem nationally.
“According to the FBI, there is no faster growing white collar crime in the country than property and mortgage fraud,” says Myka Bono Sample, Saline County circuit clerk and recorder.
Sample’s office offers a new online subscription service to the public. At no charge, taxpayers can have their name and property monitored within the recorder’s office to track possible fraudulent activity.
“A common property fraud scenario involves a criminal filing a bogus deed making it appear that the actual owner had transferred ownership of a parcel to someone else. The criminal then takes that deed to a bank, fraudulently obtains a mortgage and then disappears with a large amount of money,” Sample told the Voice.
“And while it can happen to anyone, perpetrators of property fraud often prey on the elderly, people in long- term care facilities, absentee property owners and owners who spend large parts of the year out of town,” Sample said.
The property fraud alert system notifies individuals by email or by a phone call when transactions involving their property are recorded in the Saline County Register of Deeds Office. “While property fraud alert does not prevent fraud from happening, it provides an early warning system for property owners to take appropriate actions should they determine possible fraudulent activity has taken place,” she said. “This can include notices of fraudulent liens or mortgages.
“The best protection we can offer against property fraud is proactive protection,” Sample added. It’s easy to sign up for the service, she said. Property fraud alert is now available on www.salinecountycircuitclerk.com or at www.propertyfraudalert.com. The public may also call 1-800-728-3858 or call the recorder’s office at 501-303-5607.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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