F.B.I. Investigates Wholesalers for Title Theft

[Account Closed]

So, it begins.

A wholesaler on youtube, states that a close friend of his inadvertently has gotten wrapped up in a very serious investigation. 

It appears he wholesaled a property that someone had forged ownership on. 

One of the most important aspects of wholesaling is determining that the seller has the authority to sell the property. In a wholesale situation, the F.B.I. looks at all parties involved, does not care that you didn't know and can ruin your life for a long time to come.  New, inexperienced and sloppy wholesalers can all fall into this trap. It is career ending.

Take the time to learn the law, know how to verify ownership and reduce the trouble you will encounter along the way. It's best to get licensed so you will have a competent broker, a second set of eyes on the transaction who will help keep you out of trouble. 

The attached link is just one of a growing number of fraudsters and situations to avoid.  https://www.realtor.com/news/trends/deed-fraud-quitclaim-hom...

[Chris Seveney]

Deed fraud and mortgage fraud - be careful

We just got some mortgages that were non performing that were part of this mess - was not something I wanted to get involved in

https://www.justice.gov/usao-wdok/pr/former-president-first-mortgage-company-sentenced-serve-104-months-federal-prison-and