Scams - We all need to be aware
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Lord Chevy
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FBI: NH residents have lost millions in home title thefts
The FBI’s Boston Division is warning property owners and real estate agents about an increase in reports of quit-claim deed fraud, in which unsuspecting owners have no idea their land was sold right out from under them. Also known as home title theft, the schemes involve fraudsters who forge...
The FBI’s Boston Division is warning property owners and real estate agents about an increase in reports of quit-claim deed fraud, in which unsuspecting owners have no idea their land was sold right out from under them.
Also known as home title theft, the schemes involve fraudsters who forge documents to record a phony transfer of property ownership.
Then, the fraudsters can sell the land or home, take a mortgage on it, or rent it out to make a profit — with he actual owners forced to head to court to reclaim their property.
According to the FBI, there have been 2,301 victims of this fraud from 2019 through 2023, with the victims reporting losing more than $61.5 million.
In New Hampshire, 239 victims lost more than $4 million.
Officials say the reported losses are likely much higher because many people don’t know where to report it, are embarrassed, or have not yet realized they have been scammed.“Folks across the region are having their roots literally pulled out from under them and are being left with no place to call home,” said Jodi Cohen, special agent in charge of the FBI Boston Division. “They’re suffering deeply personal losses that have inflicted a significant financial and emotional toll, including shock, anger, and even embarrassment.
“We are urging the public to heed this warning and to take proactive steps to avoid losing your property. Anyone who is a victim of this type of fraud should report it to us.”
The FBI listed some common fraudulent scenarios:
• Scammers comb through public records to find vacant parcels of land and properties that don’t have a mortgage or other lien and then impersonate the landowner, asking a real estate agent to list the property. Homeowners whose properties have been listed for sale don’t know it until they’re alerted, sometimes after the sales have gone through.
• Family members, often the elderly, are targeted by their own relatives or close associates who convince them to transfer the property into their name for their own financial gain.
• Fraudsters known as “title pirates” who use fraudulent or forged deeds and other documents to convey title to a property. Often these scams go undetected until after the money has been wired to the scammer in the fraudulent sale and the sale has been recorded.
The FBI Boston is working with property owners, realtors, title companies, and insurance companies to help stop these fraud scheme, but they say people have grown more accustomed to conducting real estate transactions through email and over the phone, which creates more opportunities for scammers.
People are urged to report fraud and suspected fraud to the FBI’s Internet Crime Complaint Center at www.ic3.gov.
HSanders
EEEGGGGGGGGGGGGGGSSSS!!!!!!
In ohio, i think you need title insurance if you have a mortgage. the insurer would check to see the chain of ownership. I would also imagine most real estate contracts should have that type of language in it. agents should probably look at the property ownership chain, which is a public record, before they list the property also.
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