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Mortgage Title Fraud
Are you aware that despite paying your mortgage or owning your home outright, someone else could potentially steal it? Discover the shocking truth in this engaging interview with Matthew Cox from Home Title Lock! Uncover how your home can be taken away without you even knowing it!
Mortgage title fraud is a type of real estate fraud in which a criminal fraudulently changes the ownership of a property by forging or altering the title documents and then taking out a loan using the property as collateral. The fraudster may also take out multiple loans on the same property, pocketing the loan proceeds and leaving the lender holding an unsecured loan on a property that is not legally theirs. This type of fraud can have serious consequences for both the homeowner and the lender, and property owners need to take steps to protect themselves from this type of crime.
Matthew Cox
Matthew Cox’s journey in the world of cyber crime began in his later years. Tricked by his manager at a mortgage company to commit fraud, he soon realized the ease of stealing someone’s home. With 15 million to 55 million dollars in title fraud under his belt, he exposes the truth on how to steal a home. Get the lowdown on his discovery – go public with records, settle the current mortgage, and transfer the title to a stolen identity. It’s that simple, or is it?”
Get ready to be stunned by this tale of a mortgage broker’s daring deeds. With a flick of a wrist, he opened up credit cards, and bank accounts, and sought loans from hard money lenders. He scouted a 500k house, convinced them to lend him 200k to 300k, and boom – a closed deal. The next move? Borrowing against the house with multiple lenders and ending up with a whopping 1 million dollars for a house worth only 80k. But the party couldn’t last forever, the lenders foreclosed and the homeowner was notified. 13 years in the game, 25 years in prison. This mastermind hails from Tampa, where he learned his tricks of the trade
Protect your property with ease! Learn how to stay ahead of fraud by registering for notifications with the county’s Register of Deeds. Simply Google the county name and search for “Register of Deeds Fraud Alert”. Once you find the website, look for the “Click Here” button, and voila! You’ll be one step closer to securing property ownership.
After clicking the link, you’ll be taken to a page where you can input your information.
After completing the previous step, make sure to check your email regularly for any fraud alerts. Set a monthly reminder in your calendar to keep yourself on track.
If your county doesn’t have a fraud alert system in place, you can still keep a watchful eye on your property. Set a monthly reminder to check the county’s website for any changes in your property’s deed status, or give them a call. If you prefer not to take on this task, you can also hire a company to do the monitoring for you.
Be wary of false satisfaction of mortgage paperwork. The fraudulent mastermind in this case surveyed a homeless man to obtain fake IDs, and shockingly, even the title company and mortgage company admitted that it’s easier now than it was 15 years ago to pull off such a scheme. Despite a few checks and balances, nothing can fully stop determined fraudsters from striking. Stay vigilant and protect your property.
Get an inside scoop on the topic by clicking here for Matthew Cox’s interview!
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