A 90-year-old Brooklyn man is fighting eviction from his home after falling victim to what he claims was a predatory deed scam nearly two decades ago. Ray Cortez, who has lived in his Park Slope brownstone for over 50 years, now faces the heartbreaking reality of eviction due to a scheme he says he unknowingly got caught up in back in 2006.
The story began when Cortez, then 72, was seeking funds for much-needed home renovations. He says he was convinced to sign over the deed to his house, believing it was a legitimate transaction that would allow him to secure the money and eventually regain ownership. However, the paperwork that would have returned the deed to him was never filed with the city, leaving Cortez in a precarious legal position.
The consequences of that decision have been devastating. Unbeknownst to Cortez, a line of credit worth nearly $700,000 was taken out against his home. When the payments on that home equity line of credit (HELOC) went unpaid, the bank foreclosed on the property, selling it for $2 million. Now, nearly 20 years later, Cortez is battling in housing court to prevent his eviction and keep the home where he raised his three children.
“It’s heartbreaking,” Cortez’s son, Ray Jr., told Eyewitness News ABC7NY. “It’s been too long for him to have to carry this with him. It’s been devastating.” The family’s struggle is compounded by the fact that Cortez has lived in the neighborhood for over half a century, witnessing its transformation from a modest area to one filled with million-dollar condos, trendy restaurants, and the nearby Barclays Center.
The brownstone Cortez purchased in 1969 for $20,000 is now valued at nearly $3 million, but despite that, his name is no longer on the deed. Neighbors and friends have rallied around Cortez, expressing shock and outrage at the situation. “It’s a travesty,” said Tom Harriman, a neighbor who described Cortez as “the perfect neighbor.” Harriman added, “All of us on this street are just appalled.”
The alleged scam that ensnared Cortez is, unfortunately, not an isolated incident. According to his attorney, Bill Lienhard, deed fraud and real estate scams are alarmingly common in gentrifying neighborhoods across Brooklyn and Queens. “If you go into certain neighborhoods, mostly communities of color in Brooklyn, from Prospect Heights over towards East New York and then southeast Queens, everybody on every block knows somebody who has been a victim of deed theft or real estate fraud,” Lienhard explained.
For now, Cortez’s eviction has been temporarily halted until September 9, while New York’s Attorney General’s office reviews the case. But the outcome remains uncertain, and the stakes could not be higher for Cortez and his family.
Deed Fraud: A Growing Threat
The type of scheme that has put Cortez’s home at risk is known as deed fraud, or more commonly, home title fraud. This insidious crime involves criminals either forging a deed to transfer ownership of a property or tricking a homeowner into signing over their deed under false pretenses, often with promises of financial help.
Once the deed is transferred, the new “owner” can wreak havoc. They may occupy the home, sell it, rent it out, or borrow money against it. For unsuspecting homeowners like Cortez, the results can be devastating, leading to legal battles, financial ruin, and even eviction.
Protecting Yourself from Deed Fraud
Deed fraud is a serious and growing concern, especially in neighborhoods experiencing rapid gentrification. Homeowners must remain vigilant to avoid falling prey to these scams. One of the first lines of defense is to monitor all incoming bills, such as mortgage statements, property tax notices, and utility bills, for any discrepancies. If a bill suddenly stops arriving or contains incorrect information, it could be a red flag.
Additionally, homeowners should periodically check the status of their property deed at the local registry office to ensure it hasn’t been tampered with. Monitoring credit reports is also crucial, as it can reveal unfamiliar accounts or sudden spikes in debt—both potential signs of identity theft.
Finally, purchasing a title insurance policy when buying a home or refinancing can offer an added layer of protection. This type of insurance guards against losses due to forged documents, impersonation, or other fraudulent activities.
As Ray Cortez fights to stay in his Brooklyn home, his story serves as a stark reminder of the dangers lurking in the real estate market. For homeowners across the country, the message is clear: stay informed, stay vigilant, and take steps to protect what is likely your most valuable asset—your home.
