AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Cost of home title lock2/15/2024 That essentially puts a big red stop sign on that title, warning any lenders that there’s a problem and that they need to tread carefully. (If your title ownership has been fraudulently changed,) you need to file an affidavit and notice of false filing with the county recorder’s office. Shortly thereafter if we don’t get a response from you, we call you. When you are a subscriber and your title is disturbed in any way, you get an email from us. We spend hundreds of thousands of dollars on our proprietary software. Our software monitors that database for our subscribers. Our founder negotiated an agreement where we have exclusive access to this database. Our database covers about 97 or 98 percent of all title filings. We have direct access to 6 billion title records in a U.S. What does your company provide to its subscribers?Ī. You’re more likely to notice you didn’t get a property tax bill on your primary home vs. Second homes, vacation homes and investment properties are also big targets because people don’t pay attention to the details such as property tax bills, foreclosure notices, past-due notices if these documents happen to get through to the property for some reason. For example, sometimes it can take two years to prosecute and the elderly victim might not be alive in two years. The big targets a lot of the time are the elderly because they have a lot of equity in their homes, they don’t pay attention to details like missing property tax bills and they make very poor witnesses and the bad guys know it. The bad guys changed your mailing address so you didn’t get any notices. Someone knocks on your door to say your property will be foreclosed because you weren’t paying back the loan you weren’t aware of. (You may not find out until) the loan goes delinquent. But they can give a kid the document to file and the deal is done. In most cases, you have to file in person. They can go online, pay $20 for a notary stamp and get it in two days. Once they have your address, they can find (your name as) the owner. They can download documents they need to steal your home. When I retired in 1995 (from the FBI after 26 years) it was on our radar but certainly not a priority. Title investigations weren’t a big deal back in the 90s and earlier. How often did you come across title theft when you worked as an FBI agent?Ī. If the property is foreclosed, the (banks) get the money first. The (banks) don’t care because they are first in line to get paid if something goes wrong. But going forward (after escrow closes), your title, which is a legal document identifying the owner of record, is not insured. (Banks) want (title insurance) because they don’t want any liens in the past. What do you mean? Banks require title insurance when people buy homes.Ī. Even if the court says this isn’t your loan and that this is your house, you’re still losing because of all the bills associated with trying to prove that because you don’t have title insurance. Then what (could) happen is that you spend two years and $50,000 to hire attorneys and experts to show that this is your house and you didn’t execute (the title change). Title theft is when somebody uses a false identify to change ownership on your property title from your name to their name and then secures as many loans as possible using your equity as collateral. (This interview was edited and condensed for clarity and space.)Ī. Pfizenmayer declined to reveal company sales, growth statistics and employee count for the privately held 4-year-old business.īelow, Pfizenmayer, 73 and an Encinitas resident, chats about how someone steals your house, who these thieves target and why you should pay for their services even though only a few of their subscribers have had their title ownership fraudulently altered. Most of its subscribers pay an annual fee of $149 per property. states subscribe to Home Title Lock, which advertises nationally on the radio and cable channels, Pfizenmayer said. That’s why thousands of homeowners spread across 50 U.S. The man created a legal and bureaucratic nightmare that could be perpetrated on homeowners if someone targets them. He remembers the story several years ago of how a mentally ill man took legal title to Petco Park away from the city and the Padres by walking into the San Diego County Recorder’s Office and submitting a properly filled-out deed transfer.
0 Comments
Read More
Leave a Reply. |