Stores are now full of books about “buying a short sale at discounted prices.” Websites promise bargains on short sale homes or promote “foreclosure lists” for a reasonable fee. In reality, there are good buys on short sale homes, but there is also a high price to pay; the process of locating, buying a short [...]

Spencer Siegel2023-07-19T20:11:43-04:00Real Estate Law|

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Spencer practices Civil Litigation in Boca Raton, FL
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The rise in instances of fraud and forgery in real estate transactions continues to sound alarms across the industry. The statistics governing fraud and forgery and the way the parties are targeted give all of us cause for concern. CertifID, a third-party verification service, reports that the 2023 data it collected revealed that there was a record fivefold increase in mortgage payoff fraud attempts from the first quarter to the second quarter alone. Fraud is not new; in a 2022 ALTA survey of closing agents nationwide, almost half reported receiving at least one email per month attempting to change a payoff or wire instructions. Unsurprisingly, the various data collected by different agencies show that Florida continues to be ranked as one of the states with the highest reported loss to cybercrime. The purpose of this article is to raise awareness and share ways in which some common types of fraud is perpetuated, explore some prevention strategies, and implement some best practices that may ultimately combat and thwart fraud.#faketitle #forgery #fraud #notaryfraud #PropertyFraud #RealEstateFraud ... See MoreSee Less

Fraud and Forgery - Catch Me If You Can - Siegel and Siegel. A Boca Raton Law Firm

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