Arizona homeowners have a new tool to keep scammers who use fake IDs and forged documents from stealing their homes through deed fraud.
Arizona homeowners have a new tool to keep scammers who use fake IDs and forged documents from stealing their homes through deed fraud.
The Arizona Department of Real Estate has launched the Early Real Estate Sales Alert System, or ERAS, that alerts property owners if their homes or land are in escrow to sell. If the owners aren’t selling, the early alert can stop a fraudulent sale before it closes.
The growing deed fraud problem involves scammers using illegal and deceptive methods to fraudulently transfer property ownership without the real owners knowing. The bogus owners then resell the properties for quick profits or mortgage them to drain the equity.