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Protect Yourself from Property Fraud
Any type of crime, including fraud, is now rampant nowadays. Real estate crime is probably one of the worse crime that could ever happen to anyone. Property fraud can happen to anyone. They can pretend to be you and sell your property or put it on a mortgage without you knowing it. No there’s no easy way or a system that can prevent fraud 100% of the time, but you can reduce the risk of property fraud by following this steps:
See if your property is already registered. If not, register your land right away. Brokers located in Savannah Georgia says that properties that are not yet registered are very much susceptible to fraud. Land Title is the best evidence that one can have to prove his ownership to a certain property. Not having the property’s land title will make you lose its claim over the property and will be a complete financial loss on your end.
Make sure that the Land Registry has your current contact details. This is very important especially if you’ve changed addresses or phone numbers. You can register up to three different addresses including an email address, and even an address overseas.
Be wary of anyone who contacts you through any form of advertising such as the Internet, radio or television, or even flyers who says that they can modify the terms of your mortgage easily. Some would even offer loan modification services that would require you to sign a contract or pay a certain amount upfront. Advance fees are prohibited by law. You may try contacting the Department of Housing and Urban Development or even your lender if they are aware of these services.
Do not make mortgages to anyone other than your lender and never transfer title of your property to anyone. Some people may pretend that they’re helping you by offering you services that are too god to be true and all you have to do is sign the contract. These are fraudulent schemes. It’s better to read the fine print first or not sign any contract at all.
Inspect the logos, seals, representations, and even names of those mortgage rescue companies. Most fraudulent companies design their logos and representations to deceive borrowers and make them believe that they are affiliated with government agencies. Always remember that any government agency will never require any advanced fees, or guarantees for their services.
Fraudulent companies prey on individuals who are most vulnerable. They target owners who are financially distressed and are in need of assistance. According to some real estate brokers from Georgia, these scam artists would promise owners from foreclosure, help them apply for a reverse mortgage, or lower their mortgage payment in exchange for an advance payment. Be very mindful when someone promises you things that are too good to be true, because they usually are.
Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply.
This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.