8/8/2023 0 Comments Home title lockHow does a home title lock work? Do you need it if you have title insurance? In order to answer these questions, this brief article will help you learn more about the basics of home title locks. Title insurance is a powerful tool to keep home buyers secure after their purchase, but other services such as title locks also exist to bolster that protection. That’s why having a monitoring service like makes sense as they will have legal frameworks in place.Buying a home is the largest purchase that most people will make in their lifetime, therefore, protecting it should be top priority. Now Mathew says people can try monitoring their property deeds by themselves, but they will still need legal help if fraudulent activity is detected. People think, hey I got title insurance, that concluded when you got the key to the front door," said Art Pfizenmayer, retired FBI agent. "Title theft is not covered by your homeowner’s policy, HOA, banks nothing. To make matters worse, Art says the only solution, for now, is to have a monitoring service like 'Home Title Lock.' "The guy who stole the money is off to somewhere with a white sandy beach with drinks that has umbrellas in them, while you are off to the courthouse with a 600 dollar per hour attorney and it takes at least 2 years most of the time," said Art Pfizenmayer, retired FBI agent. Because it's hard to trace the scammer or the money, while the lender comes after the home. Home tile fraud is one of the most under-reported crimes. The house was only worth 190,000 dollars so I took out 3 mortgages at the same time," said Mathew Cox, Former con man, True Crime author, and podcaster. "I rented a house once from somebody one time and I borrowed half a million dollars on the house. "Sometimes they will even use the same property two or three times for loans for different kinds of loans," said Art Pfizenmayer, retired FBI agent. Retired FBI agent Art Pfizenmayer says most criminals are using the equity on the property to acquire loans. You can file documents nobody calls to verify the documents," said Mathew Cox, Former con man, True Crime author, and podcaster. "The truth is you could go downtown right now and find out tons of information on any of your neighbors. The 52-year-old says home title fraud used to be a skill now even a tech-savvy kid could pull off the scam. It's that simple," said Mathew Cox, Former con man, True Crime author, and podcaster. And then open a bank account and borrow against the property. "If I liked the house, I thought this is a decent house, I would go to public records and just transfer the title from them to whoever's ID I had. ![]() Mathew Cox is a convicted home title con artist who served 13 years in federal prison for defrauding nearly 16 million dollars. ![]() It's another form of identity theft, where a fraudster sells the victim's property or refinances it, and when the mortgage is not paid, the property enters foreclosure. (WXYZ) - Southeast Michigan’s real estate market is growing rapidly.Īccording to Zillow, over the last decade, home value in the metro Detroit area has appreciated by nearly 148%.īut homeowners should be careful because in cities where the property market is booming, home title fraud is rising.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |