Q. I have owned my home for twenty years and am well on my way to paying off my mortgage. I have enough money to make my monthly payments, buy groceries, pay utility bills, and save a little for retirement. The same was true for
my neighbor, Sally, until her financial life was in ruins.
Sally was shocked when she received notices about failure to pay on a $300,000 loan on her property that she knew nothing about and another that her home was being foreclosed upon for failure to repay a $500,000 loan. The notices came from two different lenders that she did not
recognize.
She frantically did some digging and discovered that her home was transferred by deed to another party and refinanced for $500,000 as a new primary loan, and that there was also a second mortgage on her home for $300,000. She obtained copies of all the documents to see that her name was forged on the deed purporting to
transfer title to a new owner. There was a notary stamp and notary signature on these documents, all from the same notary. She now has to hire an attorney to stop the foreclosure and get her house back. She’s hoping the criminal who did this will be caught and all will be made right, but it remains to be seen.
She is the first I’ve
heard of such things happening, and frankly it’s scary. Has this type of thing happened to others in the DC area? What are some of the signs to look out for that deed theft has occurred and how can it be prevented? Thanks for your help!
