How Can I Protect My Home From Identity Theft?

It is possible for people who become victims of this harmful and hazardous sort of identity theft to have a complex problem. According to the FBI, house title theft occurs when anyone transfers your properties to them. Scammers can really alter the title to your house so they are the new true owners by using falsified documents, fraudulent identification, and signatures, among other unscrupulous methods.

By taking specific essential measures to keep your personal information private, you can defend against home title theft. All the information you require to do that will be covered in this tutorial.

What is Home Title Theft?

When someone obtains a homeowner’s private information & uses it to convert the home’s title to their own name, it is known as home title theft, also known as title fraud.  It’s a good idea to have a plan in place before you start, especially if you’re going to be working with other people.

Buyers of homes might also become victims of title theft. As an illustration, a buyer may be duped into purchasing or renting a home by someone using a fictitious title while acting as the rightful owner. Victims may hand up a deposit or earnest money in the mistaken belief that they have found a new home to reside in.

How To Protect Your Home From Identity Theft

Home title fraud is a type of scam that requires your private information to be accessible.

Maintaining your identity’s security and safety from fraudsters is the finest kind of deed fraud protection. You may take a number of measures to guard against house title theft.

1. Owner’s Title Insurance

Get owner’s title insurance now if you decided against doing so at the closing. If any claims are made while you’re the owner of the property, this policy may be able to shield you from liability. When title insurance is not available, title protection services could be useful, but they are frequently plagued with fraud.

Yet when purchasing title insurance coverage, it’s crucial to use the same caution because scammer often impersonates these businesses.

2. Look out for incoming bills 

In order to conceal their theft, criminals occasionally alter the address on invoices, allowing them extra time to profit from the property. A “change-of-address fraud” is what this is.

Pay special attention to your water, tax, and mortgage payments. If you’re watching out for elderly family members, keep track of when they get their monthly payments and make sure they keep getting them.

3. Before Buying, Check Public Documents And the History of The Property.

Bills and bank statements, as well as other undesired papers containing your personal information, should be destroyed. Never carry your birth certificate or Social Security card with you, and never give out personal details while on the phone unless you’re certain of the person.

4. Keep an Eye on Your Credit Report

Each of the three main credit reporting agencies is required to provide you with a free credit report once a year. You can detect unusual behavior, such as new accounts created in your name and illegal adjustments to your existing accounts, by routinely examining your credit report.

5. Keep Track of Each Mail

If you suddenly cease getting invoices or other critical mail, it might be an indication that your address has been changed without your knowledge. Additionally, maintain track of your vital documents, including your property & mortgage statement, and store them securely.

The Botton Line

You might lose legal possession of your house if there is a home title theft, which is a major problem. The best part is that there is a low likelihood of this occurring to you because house title theft isn’t very widespread.

The threat isn’t very high because guarding against home title theft is easy and includes adhering to best practices for avoiding identity theft.