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New Transfer at Death Deeds - Texas - Lisa Ramsey/TX
11/20/2015 10:16:08 AM (3430 views)

[+] Maryland-Prince George's county lien search - Vaniyankuni Zree/MD (2 replies)
11/19/2015 5:19:10 PM (2257 views)

[+] ProQuality Solutions, Inc. - Sherie  Reeves/KY (2 replies)
11/18/2015 1:28:36 PM (2792 views)

[+] Issues with Stewart's Title Vendor Managment - Robert  Kraemer/IN (7 replies)
11/16/2015 12:44:37 PM (4615 views)

[+] Gift baskets for the holidays? - Dan Zook/NY (6 replies)
11/16/2015 12:40:16 PM (2349 views)


Real Title Services


Texas Notaries - Lisa Ramsey/TX
11/16/2015 12:18:25 PM (1425 views)

[+] ProTitleUSA Proof of payment all invoices - Solid - ProTitleUSA Title Search/PA (12 replies)
11/16/2015 9:19:56 AM (3032 views)

[+] Why? - Jay Duncan/MO (1 reply)
11/11/2015 10:15:42 AM (2424 views)

[-] NY Times article on sham LLCs - Leigh Attridge/MA (1 reply)
11/10/2015 10:15:04 AM (2121 views)

The article is too long to post here; but the gist of it is that many  consumers are being defrauded & the villains are sham llcs.

Some of the people they interviewed for the article signed up for what they thought was a refinance to get them out of the financial hole they were in- what they actually signed was a deed for nominal consideration to an LLC & naturally enough, their o/s mortgage obligations were never taken care of leading to complete financial ruin.   I do feel terrible for those people - most of them were elderly & unaware of how the entire process worked &  just how much equity they were sitting on.  The younger people, though, would have benefited from some caution and attorney representation,    What I found interesting though was the number of forged signatures on deeds.  One woman had moved out of her brownstone & then discovered that her name had been forged to a deed to an LLC

The LLCs, though, are the real problem according to the article- because there's no way to find the true owners to bring a suit against them.  It's all a shell game.  Apparently the state of NY is now starting to require that LLCs register the real owners - for tax purposes; but it seems that it's just a drop in the bucket. 

My question about the whole thing is what happens after someone discovers a sham conveyance.  What kind of recourse would there be.  Some of the comments in the article blamed the Registry system as antiquated & unable to reach property owners so as to let them know a conveyance had been made- but I am pretty sure that is beyond the scope of what the Registry does anyway.  

 

 

 

 

 

 

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Re: NY Times article on sham LLCs - Carol Clark/NY
11/11/2015 7:58:24 PM (1893 views)

[+] Anyone heard of String Real Estate Information Services, Inc??? - Brett Ryder/NC (4 replies)
11/9/2015 5:23:14 PM (9339 views)

[+] apples2abstracts - Nisseem Froehlich/OR (2 replies)
11/9/2015 1:18:35 PM (2932 views)

[+] RealMetrix/ Beware - David Bay/FL (4 replies)
11/9/2015 7:17:33 AM (2371 views)

[+] AmeriStar - Carlyle Millard/WV (9 replies)
11/6/2015 7:52:37 AM (2807 views)

[+] Loyal Creel Minerals Any one know anything about them? - Susan Dustin/WV (2 replies)
11/5/2015 2:23:24 PM (2056 views)

[+] REAL TITLE SERVICES???? ANYONE KNOW OF THEM? - Lu Rivera/PA (5 replies)
11/5/2015 12:58:30 AM (4825 views)


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