What type of properties are most at risk?
That can vary. In New York City, complaints have been concentrated in Brooklyn and Queens, where criminals often target seniors and immigrants, and homes in historically Black neighborhoods. Deirdre Lok, director and managing attorney at the Weinberg Center for Elder Justice in Riverdale, N.Y., said someone who bought a brownstone in the 1970s or ’80s may not realize they own an asset now worth millions. (Clips from The New York Times show such homes could be purchased for $25,000 or $35,000, and sometimes even less.)
The situation can be complicated by “tangled title” properties, in which a home is passed down to heirs informally, with multiple people having ownership, or lacking clear documentation of ownership. That can make it difficult for owners to borrow against the home, and may make them more vulnerable to lowball offers from scammers, according to a study by New York University’s Furman Center.
In other areas, vacant land or unoccupied homes can be attractive to criminals because owners aren’t nearby to notice any changes or suspicious activity.
“Older people are more likely to own their own home and to have paid it off, and they are more likely to have a second home,” which may not be occupied year round, said Françoise Cleveland, government relations adviser with AARP.
Dreama Bilby, 77, and her husband, Larry, 79, said in an interview that they had moved out of their house in Tampa, Fla., years ago after a large tree fell on it. They relocated to an apartment, intending to eventually rebuild. But the Bilbys became worried when security cameras installed near the house spotted a man and woman they didn’t recognize stopping by the property. Their concern turned to alarm when the woman identified herself to a neighbor as the home’s new occupant. It turned out thieves had filed a fraudulent deed in February 2024, transferring ownership from the Bilbys. The thieves eventually pleaded guilty to criminal charges, according to the state attorney’s office in Hillsborough County, which includes Tampa.