SOMEONE PURCHASED A HOME WITHOUT ANY I.D. AT ALL

By
Real Estate Broker/Owner with NoVa Brokers LLC 0225 094634 VA/ 643686 MD

 (this is a re-post, was deleted in error)

This was interesting today.  I get a lot of people that come through the law firm I work at with the most unusual housing situations to see if they qualify for bankruptcy.

 
Well, this couple bought a home together in 2005 and now cannot afford the mortgage.  (adjustable w/neg am).  OK, same with just about everybody that walks through my door. 

 
I explained the bankruptcy process to them and told them that two of mandatory items that were needed are 2 forms of ID, one with picture (license, school ID, etc.) and one that shows SSN# or TIN# and the second thing is tax returns for 2005 and 2006.

 Guess what?  No ID at all.  The entire buying process went through with NO IDENTIFICATION at all.

 
I had them come back with their closing papers from their purchase to see what took place.  Well there are no papers in their folder that show any identification number.

 
How does this happen???  Unbelievable.  This couple has been here for 5 years with no identification.  I guess they can foreclose on their home and no one will ever know. 

 

Posted by

FOR ALL YOUR REAL ESTATE NEEDS

 

STELLA BARBOUR

NoVa Brokers LLC

1483 Chain Bridge Road Suite 103

McLean, Virginia 22101

571-814-3002 OFFICE

703-999-6104 CELL

571-281-2866 FAX

www.novabrokersllc.com

stellabarbour@yahoo.com

Licensed in Virginia & Maryland

 http://www.novabrokersllc.com/

 

 

 

Comments (14)

Jamie Parker Gwinnett
Exp Realty - Snellville, GA
Realtor, Snellville Homes
It is scary what can happen when things aren't closely regulated and people put the buck ahead of common sense.
Jan 28, 2008 02:00 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Jamie - you are right it is scary
Jan 28, 2008 02:01 PM
Obeoman Glade Jones
www.obeo.com - Salt Lake City, UT

 

 Stella!

I buy cheeseburgers all the time without ID.

...the card me when I order a double, with fired onions.

BLog on,

 

Steve

Jan 28, 2008 02:02 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Steve - Thanks for commenting.
Jan 28, 2008 02:03 PM
Tony Grego, 317-663-4173 #1 Trade Association for Alternative Inv
REISA - 317-663-4173 - Indianapolis, IN

While not that long ago but "back in the day" when there was more money than brains on the street my dogs could have been approved for a option arm.

Now we are paying for it today.While business has changed and will continue to be good it is just going to be very different today. The ones that will get hit the hardest will be the self-employed that make up the back bone of this country. It is just going to getting harder and harder to prove income with that segment of the population.

As for your client while no ID was presented it might be a little hard for a judge to buy that they lived in the home for 5 years made mortgage payments and just because they cannot afford them they get to get a pass on this one.  

Happy Selling!

Tony 

Jan 28, 2008 02:04 PM
Jeffrey Dolfinger
24/7 Realty Inc. - Poughkeepsie, NY
NRBA Member

Wow seems my defense to the foreclosure would be that my cleints, if i were a lawyer, did not sign the note or mortgage.  I would due discovery and ask for the foreclsoure to be dismissed.  I think your clients could get a few years for free with this one.

Jan 28, 2008 02:05 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Tony - You are right about that.  I think they will weed out all the parties that created some of this fraud.
Jan 28, 2008 02:06 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Jeff - They don't exist in this country at all.  I don't think anyone would find them for now.
Jan 28, 2008 02:07 PM
Jim Albano
Prudential Damiano Realty - Little Falls, NJ
Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate
Wow, in this day and age, that is truly amazing. My 18 yr old daughter went this week to open her own non-custodial bank accounts and needed a photo ID - to put money IN the bank!
Jan 28, 2008 02:14 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Jim - I know that we need ID to buy a home except if everyone is involved in a fraud scheme.
Jan 28, 2008 02:15 PM
Tina Merritt
Nest Realty - Blacksburg, VA
Virginia Real Estate
Wow....I'm in shock!
Feb 08, 2008 11:02 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Tina - Thanks for the comment.
Feb 09, 2008 08:24 AM
Chris Breck,
Advantage Title Company - Nationwide - Baltimore, MD
Advantage Title Company

5 Years ago there were a lot of Title Companies that had no business closing loans. It looks like they found one. One positive note about the decline in this market is that many of these terrible title companies are no longer in business.

Feb 18, 2008 01:18 PM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Chris - I know what you mean.  It is always scary when you don't know who to trust.
Feb 18, 2008 11:50 PM