Sticks of Fire: a Tampa blog

The Times’ Jeff Testerman wrote an excellent piece about something many of us don’t ever even think about.  You already have protections from someone robbing your home.  Guard dogs, alarm systems, and alert neighbors are all readily available.  But I bet you haven’t considered someone actually stealing your home, have you?  This sort of theft is not really covered by any security system, yet with the right paperwork - and a lender or bank that doesn’t do their job right - it is possible.  It is even easier than it sounds.

There are a few ways to steal a house, some mentioned in the story above and the list under “previous coverage.”  All involve a minimal amount of document forgery and the help of title companies and/or underwriters either knowingly colluding with he criminals or simply not doing the job they are paid to do.

Your property is legally acknowledged as yours because there is either a) a deed on file at the county courthouse signed by the previous owner giving you legal right to the property and/or b) there is a mortgage on file from the bank that you initially lent you the money to buy your home. If you paid cash for your house, there is no mortgage on file.

In another story in Florida, a rental home was stolen from the owner that lived out of the country. The thieves filed paperwork that indicated a sale had taken place, and the mortgage paid off. They then took out another mortgage (using the phony “satisfaction of lien” paperwork) and disappeared with the proceeds.  Neither the title company nor the underwriters working for the new lender ever really looked at the documents which included forged closing documents and fake ID’s. The only people that seemed to be on the ball were the homeowners’ association. They noticed the sale and mailed a letter to the real owner to advise them they no longer had to pay HOA dues.  You know, since the house was sold and stuff.

It is even easier with a home that is owned outright. A fake ID and a visit to a property attorney with an accomplice and anyone can pretend to own a house.  Pick a vacant one if you can, maybe even rent it so you have access.  As soon as the attorney files the deed, mortgage the home to the hilt and off you go. Since nobody has your real name you can cash the checks anywhere and disappear.

Protection for this sort of fraud is supposed to be the title company and the underwriter.  The title company is supposed to make certain the seller actually owns the property.  The underwriter is someone the lender hires to double-check all the documentation and approve the loans.  If either of these parties is negligent or complicit in the theft, you are left holding the bag, which includes the mortgage and the legal fees required to get your house back.

Here’s the kicker:  There is no real way to protect yourself against this.  If you live in Hillsborough County you can periodically check the Clerk of the Circuit Court records online.  It’s fairly easy to search your name to see if any new paperwork was filed on your house:  From the main page, click public records, then online records search, official records public search screen, then agree to the disclaimer.  Simply enter your name and see what pops up.  If you see a deed with your signature that you didn’t sign, be worried.

Be sure to also pay attention to all documentation sent to you by your mortgage company, title company, real estate lawyer, county clerk, or homeowners association.

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