Everyone’s in real estate, including ID thieves

houseforsale.jpegRemember the shock when you looked at your credit card bill and found that fraudulent charge? Eh, you called the card company and it was swiftly removed – no biggie. Now, imagine you wake up one morning and there is a moving truck in front of your home. Your house was sold a month ago; you just didn’t know it.

That scenario is very close to reality for Paul Reviczky, who fled Eastern Europe for Canada in the 50’s to “escape the lawlessness.” His rental property has been sold out from under him – he’s a victim of title fraud.

All this was done with the help of Mr. Reviczky’s “tenants” and a “lawyer” he never hired. The transaction documents were “properly” notarized by “someone” attesting to driver’s license presentation. There is no telling how far the scammers really went to become Mr. Reviczky, or whether some fraudulently drafted paperwork was enough to get a mortgage on a house, within a system that is obviously very very broken.

With mortgage brokers shoveling money into real estate brokers’ pockets, on the backs of appraisals performed in five minutes, this is none too surprising. Oh, the real estate craze.

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