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How An Idenity Thief Can Steal The Equity Out of Your House Or Condo
2021 Nov 16, 5:10am 249 views 5 comments
Comments 1 - 5 of 5 Search these comments
1
WookieMan
2021 Nov 16, 6:38am
WookieMan
2021 Nov 16, 6:38am
It's called a trust. Have ownership of the home in said trust. Not complicated and 99.999% foolproof if someone tried the scams you speak of.
Those are also nearly impossible as well unless you've posted your info publicly on the web and said take my identity. I've never seen or heard of a loan where someone from the title company does not physically meet you to notarize the loan documents. 15 years experience in real estate and obviously my own purchases.
One of my refi's my wife was drunk, it was St. Patricks day and we made the mistake of signing the paperwork in the afternoon. Also was a friends birthday lunch as well. The gal from the title company almost stopped us because she couldn't sign her signature consistently. The scams you're speaking almost always actually involve the homeowner getting a kick back or all of the money minus a small fee. It's intentional identity theft because they're broke.
It's a near zero possibility it happens without an owner knowing.
Those are also nearly impossible as well unless you've posted your info publicly on the web and said take my identity. I've never seen or heard of a loan where someone from the title company does not physically meet you to notarize the loan documents. 15 years experience in real estate and obviously my own purchases.
One of my refi's my wife was drunk, it was St. Patricks day and we made the mistake of signing the paperwork in the afternoon. Also was a friends birthday lunch as well. The gal from the title company almost stopped us because she couldn't sign her signature consistently. The scams you're speaking almost always actually involve the homeowner getting a kick back or all of the money minus a small fee. It's intentional identity theft because they're broke.
It's a near zero possibility it happens without an owner knowing.
2
Tenpoundbass
2021 Nov 16, 7:06am
Tenpoundbass
2021 Nov 16, 7:06am
ohomen171 says
Are They? Trump's Russia Hacker buddies, also lived in Russia. We all know now, there was no Russian Hacker buddies, just Peter Schiff's toe cheese spooks, posing as Russian Hackers. If all of the hacking really came from Russia or China, and these other places, the we would have a firewall by now preventing that sort of thing.
They often live in countries like Russia, Iran, North Korea, or Nigeria, For all intents and purposes, they are immune from arrest and prosecution
Are They? Trump's Russia Hacker buddies, also lived in Russia. We all know now, there was no Russian Hacker buddies, just Peter Schiff's toe cheese spooks, posing as Russian Hackers. If all of the hacking really came from Russia or China, and these other places, the we would have a firewall by now preventing that sort of thing.
3
WookieMan
2021 Nov 16, 7:22am
WookieMan
2021 Nov 16, 7:22am
Tenpoundbass says
Maybe Elena doesn't know about using a VPN? Lol.
A "hacker" from Russia can be your next door neighbor. She might need to up her game on identity theft and usage of the internet.
If all of the hacking really came from Russia or China, and these other places, the we would have a firewall by now preventing that sort of thing.
Maybe Elena doesn't know about using a VPN? Lol.
A "hacker" from Russia can be your next door neighbor. She might need to up her game on identity theft and usage of the internet.
4
komputodo
2021 Nov 16, 9:00am
komputodo
2021 Nov 16, 9:00am
ohomen171 says
Note: All countries listed are from the MSM's list of enemies of state.
They often live in countries like Russia, Iran, North Korea, or Nigeria,
Note: All countries listed are from the MSM's list of enemies of state.
5
Tenpoundbass
2021 Nov 16, 9:12am
Tenpoundbass
2021 Nov 16, 9:12am
komputodo says
Yeah and I would love to know just how the DOJ clawed back some of the pipeline ransom earlier this year, from Bit Coin.
Two impossible feats on their own. Find hackers and demand money back, or getting Bitcoin to refund money given to hackers.
Why can't the thousands of other individuals and institutions get some or all of their money back from from Foreign hacking scammers?
Because they CAN'T! Me thinks, it was a CIA operation to attack the pipeline, that backfired Biggly on the incoming administration, that just earlier that week shut down the pipeline. It was all very unpopular and really affected Bidens fake polling numbers. So the CIA reversed payments to mitigate the optics of the Biden inept incompetent administration.
Then STILL to this fucking day, they talk about foreign hackers with a straight face.
If foreigners could hack, Abdul and Rashika wouldn't have to call us from India, telling us they are Sharon and Steve, and posing clever ways for us to give them our personal information. Abdul and Rashika would much rather hack us if it were so fucking easy.
Note: All countries listed are from the MSM's list of enemies of state.
Yeah and I would love to know just how the DOJ clawed back some of the pipeline ransom earlier this year, from Bit Coin.
Two impossible feats on their own. Find hackers and demand money back, or getting Bitcoin to refund money given to hackers.
Why can't the thousands of other individuals and institutions get some or all of their money back from from Foreign hacking scammers?
Because they CAN'T! Me thinks, it was a CIA operation to attack the pipeline, that backfired Biggly on the incoming administration, that just earlier that week shut down the pipeline. It was all very unpopular and really affected Bidens fake polling numbers. So the CIA reversed payments to mitigate the optics of the Biden inept incompetent administration.
Then STILL to this fucking day, they talk about foreign hackers with a straight face.
If foreigners could hack, Abdul and Rashika wouldn't have to call us from India, telling us they are Sharon and Steve, and posing clever ways for us to give them our personal information. Abdul and Rashika would much rather hack us if it were so fucking easy.
In scenario one, the identity thief gets your Social Security number and date of birth. They research you on some services like Instantcheckmate, Been Verified, etc. They find out where you live. They get the names of family members and other details of your life. They then go to a real estate service like Zillow or Redfin. They find out what your property is worth. They get some realtor to do a title search. They find out any mortgages that you have on the property.
They go to an online mortgage service like Rocket Mortgage. They apply for a large loan. It is all impersonal and online. The loan gets approved. The lender sends out a mobile notary with all the loan papers to an agreed meeting place. The identity thief has "a local helper" in place with a convincing false driver's license and other ID documents. The loan is signed off and signatures notarized. The documents go to a title company. They are recorded. A title insurance policy is given to the lender in the event of fraud. Our identity thief is hundreds of thousands or perhaps millions of dollars richer.
Scenario two is cleverer. The identity thief does all the steps in Scenario one. In this case if the house or apartment is paid off. They generate a quick claim deed and record it at the local courthouse in the name of some "local helper" with decent credit. This person applies for a huge loan of up to millions of dollars. It gets approved. This "local helper." goes to the title company and signs all the loan papers. They are duly recorded. An identity thief is now a rich man or woman.
If you are monitoring your credit each month, you will detect this. If you are not monitoring your credit, the local sheriff will show up to sell your house in foreclosure when the loan defaults.
Elena is sure that the safeguards in place prevent these from happening. They do not! One can also take comfort in the title insurance policy issued by the title company. Surely, once the fraud is reported they will pay up quickly.
This is wishful thinking. You are in for a protracted legal battle that could take years and cost tens of thousands of dollars in legal fees. Therefore identity theft insurance coverage is a vital tool to have. The premiums are not outrageous.
Do not take comfort that law enforcement agencies will come to your aid. Recently a San Francisco non-profit was defrauded of $600,000 in an email scam. Local, state, and Federal law enforcement agencies declined to investigate the case. The director of the nonprofit did deep research and found the thief. She did not recover her money.