MOST ATTRACTIVE TARGETS
Older homeowners
Rental properties
Vacation properties
Snowbirds
Frequent travellers
Vacant properties
Unfinanced properties
Properties with significant equity
Victims of identity theft
Identity theft
HOW IT WORKS
Fraudsters pretend to be you. If they can gain access to your home, they can sell it as "you". Or they can take out financing on your property in your name without ever stepping foot in it.
HOW WE HELP
Our Property Alert Service helps prevent fraudulent transactions from closing. We will notify the real you of any upcoming transactions involving your property so that you can intervene in cases of fraud or other unauthorized transactions. We also implement closing controls help ensure that only legitimate transactions do close.
Manipulation
HOW IT WORKS
Older adults and other vulnerable people can be manipulated into taking actions that are against their own best interests such as transferring or financing a property. You may not know what you are signing, feel you have no choice, or are otherwise being lied to. Common examples include romance scams and elder financial abuse.
HOW WE HELP
By also notifying your Trusted Contacts of any upcoming transactions, the people you have asked to look out for you will be made aware of the proposed transaction and can take steps to help intervene if needed.
POA Abuse
HOW IT WORKS
There are two ways Power of Attorney abuse can happen. First is that your legitimately appointed attorney oversteps their authority and transfers or finances your property for their own benefit. Second is that someone creates a fake POA document. The issue is a lack of POA oversight.
HOW WE HELP
Our Property Alert Service deters both types of abuse as the abusers know they will be immediately discovered. We create oversight of attorneys and help prevent any fraudulent transactions from closing.
A mortgage or HELOC isn't enough
Existing financing on your property may be a deterrent as title to your property is not entirely “clean”, but that alone will not protect you. In some cases, fraudsters will sell your home, pay off the existing mortgage, and walk away with the equity you have in it.
Equally, securing a home equity line of credit (HELOC) as a deterrent to real estate fraud can backfire as it sometimes can be easier for bad actors to simply target the HELOC itself.
Real estate fraud in the news
Who can you trust? Lillian Thomey is the picture of financial elder abuse and its consequences.