/EINPresswire.com/ The search for title companies in the U.S. has increased in 2012, following the number of occurrences of mortgage frauds.
The number of title companies’ searches rose in 2012. Probably due to the number of mortgage scams, there is a lot of concerns regarding the previous owners and debts. The statistics below show the percentage of the number of searches for title companies in each city on the website CompaniesRealEstate.net:
-Miami: 8.21%
-Los Angeles: 7.23%
-Chicago: 5.11%
-Phoenix: 5.22%
-Detroit: 4.62%
-New York: 4.89%
-Dallas: 3.59%
According to FBI, the number of mortgage frauds in US top states is alarming, which can be the cause of the high fetch for a title company. This type of companies can check all the property’s previous deeds, debts and owners.
FBI fraud index in US;
Florida: 100
California: 94
Illinois: 53
Arizona: 57
Michigan: 42
New York: 42
Texas: 19
This index is calculated based upon the top ten rankings of thirteen different indicators of mortgage fraud. Seven of these indicators are evidence of suspected fraud while the remaining six are local measures associated with increased risk of mortgage fraud.
Real estate agents advise home buyers and investors to have full certainty about the property records before investing. Many real estate scam victims have headaches trying to get rid of cloaked fraud.
About:
CompaniesRealEstate.net provides lists of real estate agents, mortgage agents and securities companies since 2010. It has a large team of real estate experts throughout the United States who are consultants to investors and homebuyers.
Media Contact:
Victoria Silverstone
Companiesrealestate.net
(310) 877-6999
http://www.companiesrealestate.net/
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