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Florida, the Capital of U.S. Foreclosure Scams
Parcelnomics dba SRT Holding Florida
In the first quarter of 2013, 1 out of 104 homes was in foreclosure in Florida. The state had over 86.000 of them, all because owners could no longer make mortgage payments. At the time, it was three times the rate of all other states. Over a million such cases are being processed meaning there is plenty of room of mistakes and scammers. Scammers have included those you trust-like your attorney, or any company telling you that it can prevent the foreclosure by paying the past taxes and\or mortgages. The homeowner, desperate, are more than willing to sign over the title to the company in exchange for the company to pay off the past due costs and keep the house. But if one thinks logically, if the company does do this, will they convey title back to the owners? Maybe they will for a fee? Maybe they won't. But what does happen is that nothing is paid and the owners trust in the company is dangerous. Soon, the foreclosure will come and the owners evicted. Then, the company has title.
Another scam is selling defective deeds or quitclaim deeds. Here, the a buyer sees a property online costing much less than the appraised value. If its too good to be true, it is! What happens is a property is for sale for $15,000, but appraisal records indicated 160,000. That is a red flag. Parcelnomics has done this in the Tampa, Ft. Myers area. If the buyer pays the 15K, Parcelnomics will given them a defective deed or quitclaim deed. A defect can be for many reasons that unsuspecting buyers in RE would not know. In this case, court sales records reveal that the previous transfer from the foreclosure attorney trustee to Parcelnomics was disqualified twice. No remedy occurred, so title remained with the trustee. Yet, Parcelnomics posted the property on Zillow, not the MLS, for just $15000. Apparently, to recoup loses they incurred. What they would give is a defective quitclaim deed because they are not the true owner.
But, it did not stop there. On the same property, they got the court to approve a Special Warranty transfer guaranteeing the title is free and clear. How did they do this? By transferring from Parcelnomics in Nevada to SRT Florida in Arizona. Well, the Nevada corporations office shows that Parcelnomics also DBA as SRT Holding Florida, the latter is in AZ. It looks like the title is going to a different company. Even a witness to the document is a member of the company as revealed! This was AFTER the transfer was disqualified. Therefore, Parcelnomics never got title to the property. Stunning. Fraud on its face, but only if one looks into the records.
Parcelnomics, a company in Nevada, Arizona, uses the UPS store as their office for mailboxes. In Florida, they are wherever property that is in default or foreclosure. Nevada has a ongoing fraud investigation, and homeowners in Florida have lost their homes.
Since many records are recorded and are public record, any would be purchaser should investigate online at the county where the home is. Parcelnomics, only has six members, but but they have others looking for victims facing default or foreclosure. If you hear their name, just say no! Beware, there are many similar outfits like them roaming in Florida.