Tag Archives: title insurance

Don’t Be Spoofed!

You have read the warnings: “Don’t wire funds in response to an email without using call-back procedures!” Always call the party who appears to have sent the email for confirmation using a “safe” or know phone number. What happens if you receive a phone call from your intended funds recipient, asking that you wire funds? You check the number on your caller ID and see that it matches the know number you have.

Are you good to wire funds? NO!

Fraudsters and thieves are utilizing prepaid “burner” phones and applications that will “spoof” the caller ID of any phone number the caller chooses-even valid phone numbers of known businesses.

This fraud scheme is rampant – our industry is not the only target. These spoofing apps advertise themselves as a tool to “prank your friends” but  are used by criminals posing as entities such as taxing authorities or bank personnel in order to defraud companies and consumers into sending money or providing confidential information.

How does this affect the title insurance companies? Fraudsters have learned that responsible escrow officers have begun using call back procedures to validate and verify emails regarding wiring of funds. They are using spoof caller ID in order to circumvent security procedures.

DON’T GET SPOOFED! An incoming phone call never takes the place of an outgoing confirmatory call before wiring funds.

 

Reprinted with permission of the American Land Title Association.
First American Title Insurance Company makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.
AMD: 05/2017

CHERRY CREEK TITLE SERVICES IS AN INDEPENDENT POLICY-ISSUING AGENT OF FIRST AMERICAN TITLE INSURANCE COMPANY

Can I Sell My Home After Filing Chapter 7 Bankruptcy Before I Receive My Final Discharge?

by Michael Selinfreund, President/General Counsel of Cherry Creek Title Services, Inc.

This article and video presentation is for educational purposes only and not intended as legal advice.  To view more educational videos on real estate and other related subjects visit us at the Cherry Creek Title Services Channel on You Tube

 

Yes.  However, it requires the cooperation and approval of the Trustee to release “abandon” the Property.   And, depending on the jurisdiction, it may still require a Motion to Abandon the Property and an Order authorizing sale from the Bankruptcy Court.  And predictably, is not a fast process.  Since a typical Chapter 7 (Straight Bankruptcy) case takes 90 days from filing to discharge, the wiser move is to just wait until the case is completed.   Pursuant to section 522 of the Bankruptcy code, the Trustee has control over the debtor’s estate from filing until discharge so the debtor should refrain from entering into any contracts of any sort (e.g. listing agreement; sales agreement) until after receiving their final discharge.

 

VIDEO PRESENTATION ON SELLING OR REFINANCING YOUR HOME IN BANKRUPTCY