What you don’t know is that you’re open to a type of theft you’ve probably never heard of: home title fraud. Victims of this devastating crime have their homes stolen before they even know what happened - By Komando Staff, Komando.com
Cybercrime has soared during the pandemic, with hacks, breaches and
scams hitting unprecedented highs. You know hackers are waiting to
pounce while you’re working, shopping and spending time online.
you don’t know is that you’re open to a type of theft you’ve probably
never heard of: home title fraud. Victims of this devastating crime have
their homes stolen before they even know what happened.
Simply put, thieves change the ownership of your home from you to them, take out loans and disappear. You’re left with the legal bills and your hard-earned equity is gone.
How cybercriminals steal your home
Just think about all the
years you and your family have been working to make mortgage payments.
You pay taxes on your home, insurance and even homeowners association
If you’re like most homeowners, you’ve spent a lifetime
going to work, paying your bills and saving money. Finally, when your
home is paid off, you can rest easy. But that’s when the unthinkable
Here’s how: Your home’s title and mortgage information
are stored and readily available online for those who knew where to
look. Criminals use this info, and details about you leaked in data
breaches, to transfer you off your title.
They forge the
paperwork, and either take a trip to the country recorder’s office or
simply click “send” to make it official. The majority of recorder’s
offices assume the paperwork is genuine, and just like that, your home
is no longer yours.
Once they’ve got the title to your home, they
can legally kick you out it or use its equity to take out money and live
a lavish lifestyle.
your home’s value your retirement plan? You’ve heard that people get
rich off their homes. If you’ve owned it long enough and live in a hot
real estate market, you could retire on that alone.
You can sell your house and use the equity you’ve built up to buy a
smaller home and invest the rest. That dream can be shattered by home
title criminals, though.
Once they legally have the title to your
home, they can simply walk into a bank and use the equity that you built
up to take out a loan to pay their bills. Title fraud happens far more
often than you might think. Millions of homeowners are at risk right
Wait, aren’t I protected already?
In a word, no. Home
Title Lock is the only company that provides nationwide monitoring and
alerts. You may think your bank, insurance, trust or identity theft
protection services can prevent home title fraud, but the truth is they
Don’t think home title insurance protects you, either. That
insurance is required by lenders to endure you have a clean title. It
protects you through escrow but doesn’t cover future events.
There’s more info than ever about you on the web
hack and breach puts more of your info online — giving cybercriminals
more fuel. It’s not just your name, phone number and address, but
details like your Social Security number and online financial logins,
And did you know your property deed, including your
signature, is most likely online? All you have to do is check your
county assessor’s website and type in your address.
You’ll be shocked to find all your private information about your property is right there for cybercriminals to steal.
Title Lock created the world’s largest property records database in the
U.S. It now includes more than 6.1 billion records.
Protect yourself now
title fraud is a terrifying crime. Cybercriminals can easily put your
home in their name then evict you from your home or steal its equity.
Don’t take that risk.
This content has been reproduced from its original source.
"I've been a Home Title Lock customer for 2 years. Their customer service is excellent and I most appreciate the comfort that comes from knowing that I will be immediately alerted and assisted if anyone ever attempts to fraudulently use my title."
Property ownership is not just the American dream, it's also the most flexible financial tool to build family prosperity. Home Title Lock ensures that your assets are protected against Title Fraud and Title Thieves.
Thirty years ago we started creating the largest database of property records in the United States. Today, that database has 6.1 billion property records. We protect your property value and ownership from on-line threats both foreign and domestic.