Understanding Home Title Theft (Infographic)
Usually when we think about scams, we think about online scams and identity theft. Well, there’s now a new type of theft that focuses on homeowners and trying to steal away their home equity – home title theft.
Here’s how it works:
First, forged deeds can be created easily by using accessing online information of from property data from public records. Once a cybercriminal puts together your public record, address, and examples of your signature, they then file paperwork with the county claiming they own of your home. Once that’s done, they can use the false deed to profit by taking out loans against your property and even try to sell the property.
You might not realize this is happening until you get a letter from your lender that you’re in foreclosure and can no longer sell, refinance, or transfer ownership.
Services such as Home Title Lock can stop this process in their tracks – learn more and protect yourself with the visual deep dive below: