9/11/2023 0 Comments Do you need home title lock![]() Taking Advantage of Homeowners’ Fears? An Investigative News Team Looked at One Anti-Fraud Company In one deed fraud conspiracy, a notary was one of the people accused of stealing 11 Philly homes. Sometimes, notaries have been in on these acts. Philadelphia reported 53 cases during the same year. As reported by ABC News, New York City received 154 reports of deed theft in 2021. But deed theft didn’t end after the crisis. No wonder deed fraud was a big issue in the housing market meltdown of 2008-2009. ☛ Learn more about fraud that targets people who are struggling to make their mortgage payments. In other all-too-common scenarios, an outside business (not the homeowner’s mortgage company) persuades a struggling homeowner to sign over the property deed, promising foreclosure relief - and taking money from the target on top of all that. ![]() And an investigation into home equity theft began. In this case, the auditor’s office noticed something odd - a signature that didn’t match the same person’s signature on the prior deed. Then, after the owner died, the culprit started making cash payments on the property taxes. ![]() The plot? Steal the property before the homeowner died. A former public servant was charged with faking an elderly homeowner’s signature. How Can Someone Steal a Deed?Ĭonsider a real example from the Austin, Texas area. Quick reporting of deed fraud to the authorities might even prevent bad actors from getting loans on the real estate, or from transferring ill-gotten titles to other people. But the rightful homeowner’s quick response can limit the activities the culprits can carry out. If a fraud alert is triggered, it could mean someone has already tampered with a title. And help the seniors in your life sign up, too. If your own county recorder’s office offers automatic title alert services, it’s a good idea to sign up. That’s why many counties offer automatic alerts to homeowners when anything is recorded against their titles. And its consequences can be terribly costly. But Isn’t Deed Theft a Real Risk to Homeowners? Now, Texas Attorney General Ken Paxton has launched an investigation into Home Title Lock’s advertising. The company warns potential customers to “lock” their deeds, or they could be left homeless and mired in credit problems. The latest cyberthreat is home equity theft, warns the Home Title Lock company. Do Anti-Fraud Companies Overhype Deed Theft?
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