Did you know that in many instances, stealing someones house can be easier than stealing a car? All it takes is someone filing a fraudulent transfer of ownership document with the Cook County Recorder of Deeds office. Savvy fraudsters often target elderly persons who live in paid-for-homes, and who have no heirs. This allows the criminal to take out a mortgage or sell the home outright once the owner dies. Though the documents may be fake, the damage is real because the homeowner must get a court order (at their own expense) to have the fake document removed. Until this happens, the true owner will be unable to refinance or sell their home. Cook County Recorder of Deeds, Karen A. Yarbrough helped pass a new state law creating an expedited judicial review process to remove fraudulent recordings, there is a tool available now that can alert homeowners when a document is recorded against their propertys 14-digit Property Identification Number (found on your property tax bill). The Cook County Recorder of Deeds free Property Fraud Alert will trigger a phone call or email to the homeowner when a new document is recorded, so that they can investigate further. Thank you Association of Illinois Real Estate Educators for this information, airee.org/.
Posted on: Wed, 06 Aug 2014 21:14:13 +0000
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