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Tenant Steals Landlords Identity

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Guardian today - in one of the most audacious cases of identity theft a landlord was left homelss & peniless after his tenant remortgaged his property for 200k then disappeared, the house was repossessed. :(:)

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Look who the company is - GMAC.

Profligate self-cert company, no surprise there then.

Failing car maker to become a failing financial services company too?

Edited by OnlyMe

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http://money.guardian.co.uk/scamsandfraud/...1669152,00.html

This is it methinks

I once knew a commercial landlord who had a tenant that was an experienced fraudster. On moving in, She put all bills in the Landlords name, with a certain amount of identity theft, inc. biz rates & then did a runner owing thousands, doing a 'long firm' type of fraud.

She did this to a few people in the area, one of which went on holiday in New Zealand , only to spot the fraudster by chance working in a bar there. They reported her to the local police suspecting she was up to similar fraud in NZ. She was & got 3 years.

Edited by Saving For a Space Ship

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Guardian today - in one of the most audacious cases of identity theft a landlord was left homelss & peniless after his tenant remortgaged his property for 200k then disappeared, the house was repossessed. :(:)

Don't understand. How could he possibly loose the house when the documentation was a fraud. Is the law really such an ass in this country? Or do judges just use the bench as nap time in between the golf rounds?

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Don't understand. How could he possibly loose the house when the documentation was a fraud. Is the law really such an ass in this country? Or do judges just use the bench as nap time in between the golf rounds?

Read to the bottom and you see GMAC gave him the house back. Which was nice.

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Ouch!

I'm planning to rent my current house out in a few years (to help pay for my next property).

Jeez.... Makes you think... all those loan/credit card forms that come through the door each week with MY NAME on...

Scary!

Fortunately, I'm planning to rent it out to graduates new to the company I work for so this should reduce the risk!

The amount of loan/credit card junkmail we all get is ridiculous. It must be easy for a skilled fraudster if they get hold of this stuff.

Watch what you throw in the bin...

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Read to the bottom and you see GMAC gave him the house back. Which was nice.

... and next thing we'll hear about a long-con firm of tenants and landlords in bed together defrauding the remortgaging lender with this wheeze ... and then all bets are off as lender after lender starts to refuse to give back the property... oh yes.....

Another for my "Another Property Enron" thread methinks.

Edited by Sledgehead

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... and next thing we'll hear about a long-con firm of tenants and landlords in bed together defrauding the remortgaging lender with this wheeze ... and then all bets are off as lender after lender starts to refuse to give back the property... oh yes.....

Another for my "Another Property Enron" thread methinks.

I thought that the lender holds the deeds to a property until the mortgage is paid off. Presumably you have to give up these deeds when making a mortgage application.

No deeds, no dice!

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I thought that the lender holds the deeds to a property until the mortgage is paid off. Presumably you have to give up these deeds when making a mortgage application.

No deeds, no dice!

Not sure what happens in the UK but here in Oz the Bank holds the deeds to the house until the mortgage is paid off. One RE investment book said that this was a good thing as the bank wouldn't lose such an important document :rolleyes: Personally I'd be wanting to hold on to that little baby B)

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Maybe my understanding of the legal system is wrong and I'm sure there will be someone on this forum who can correct me if it is but I thought if someone were to steal your car and then sell it it would still technically belong to you (or the insurance company if they had paid up). The police could then take it from whoever it was sold to (in receipt of stolen goods?) and they would get nothing. How is this different other than the person who "bought" the stolen good was they bank when they agreed to remorgage the property?

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I thought that the lender holds the deeds to a property until the mortgage is paid off. Presumably you have to give up these deeds when making a mortgage application.

No deeds, no dice!

There are no deeds anymore, everything is electronic, you end up with a Land Registry title document which is basically a computer print out consisting of a couple of pages, the LR then take the original deeds and shread them. I was talking to a solicitor about this a few months back, he said the new system was ripe for fraud and would cause all sorts of problems in the future, apparently the banks are complicit in the fact they don't want to hold and store documents for decades.

The DVLA take better care of your car than the LR now does with your property.

Edited by BuyingBear

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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