'If you live at the end of Tobacco Road in a dilapidated trailer on a treeless, quarter-acre lot, houses like these are far away. Find one, and get a loan against its value.' View all 2 photos
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If you’re American, surely you’ve noticed that companies trip over each other to try to get you to borrow money from them. Credit cards, home equity loans, they’re everywhere. Home equity loans used to be illegal only in Texas, but that law’s probably been repealed by now, so you can get a home equity loan everywhere.
Go to an office supply store and look for the blank legal forms. Get a quit claim deed. This is a legal form one would fill out to sign over their rights to a piece of real estate to someone else.
Now look around your city, and find a really nice residential building, like a big McMansion. Get the address, and go to the county courthouse. The property records are probably kept on one floor of the courthouse.
The property deeds are searchable by address. Use the address you wrote down and get the name of the owner. Use the name to fill out your quit claim deed form, and forge the schmuck’s signature. You’ll have to go to a notary public to have the quit claim deed notarized. In some states, the notary will require a thumbprint from you, specifically because of this scam.
Go back to the courthouse and file the quit claim deed. Then, you can get a deed to that piece of property in your name. This might cost $100 or so. Then, that piece of property is yours, at least on paper.
Now, click on the "home equity loan" advertising link on pretty much any website. Have a copy of your new deed. They’ll be impressed by the expensive piece of real estate, and mae you a big loan, perhaps as much as a quarter of a million dollars. When the loan goes through, deposit in a bank account in Switzerland or the Cayman Islands.
At this time, it will probably be necessary for you to leave the United States. Don’t worry; you’ll have lots of money when you get wherever you’re going.
After a month, the mortgage company will want your first payment on the loan. When it’s late, they’ll go to "your" house, and demand payment. The rightful owner will wonder what the hell is going on. Once everything gets straightened out, you’ll have a month-long head start running from the law, with a load of money to boot. Enjoy running from the law; it’s easier to get away with murder than with owing somebody money.
Apr 23, 2005 10:23 pm - This is the first egg I’ve made that involves committing a felony. It was a common scam fifteen years ago, but would be harder to pull off now. Born too late I guess.
Dec 18, 2005 8:06 am - Very bold. I’m not going to admit to anything, but ripping off loan companies is a lot easier than it should be...
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