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Home Title Theft. In 2008 when title theft was still uncommon, the fbi posted a notice about this house stealing scam, telling homeowners what to watch out for. Home title theft, also known as deed theft, is the process of fraudulently putting a house deed in another person’s name. And it can cost you plenty in terms of dollars, the time you�ll spend fixing it, and the damage it causes to your credit. Property title theft occurs when someone fraudulently obtains the title of a home or property through identity theft.
However, it is not a traditional insurance offering and there’s likely no legal obligation for them to step in with money to shore up your losses financially if you have to file a claim. Home title lock is a nationwide company that provides insurance against title fraud, also known as “house stealing” or “deed theft.” whether home title lock is worthwhile for you will depend on the type of property you own, how much time you’re willing to put into monitoring your own deed(s), and whether you already have owner’s title insurance. An even bigger theft is home title fraud. A thief steals your identity, then uses it forge a deed, making it look like they’re the property owner. With growing awareness to the problem and id protection plans widely available the average identity theft brings in around $2,000 or less to the crook. He’s the guy you hear in the company’s many commercials.
Home title theft, also known as deed theft, is the process of fraudulently putting a house deed in another person’s name.
“there was a time it exploded here in philadelphia,” he said. The criminal steals the owner’s identity, forges a deed to change ownership on the title of the property, and has that deed recorded by local authorities. Don�t assume home title fraud can�t happen to you. It costs $15 a month ($150 annually, two years for $298). That�s where the theft would show up, since the tax bill would go to the title holder. Since the forger’s name will appear on the land records, the forger can sometimes deceive a third party into “buying” the property or a lender to take a “mortgage” of the nonexistent title.
