![]() This will be helpful if you need to file a lawsuit or take other legal action. Keep track of all correspondence and documents related to the theft. Doing so can prevent future financial harm and foreclosure. Even if the fraudster has not applied for a home equity loan or line of credit, contact your mortgage lender and alert them to the situation. Also determine whether fraudsters opened any credit cards or personal loans in your name. This includes, but is not limited to, your mortgage lender and title insurance company. If you discover a thief has opened new accounts using your home title, contact the lenders to notify them of the fraud and have the accounts closed. The police can also help you create a paper trail that will be helpful if you need to take legal action. This will help you start the recovery process and protect yourself from further damage. ![]() Contact the police and credit reporting agencies immediately. If there are any unauthorized accounts in your report, dispute them with each relevant bureau. This will make it more difficult for someone to open new accounts in your name. Contact the three major credit reporting agencies and request that a fraud alert is placed on your credit file. Contact the three main credit bureaus.If you think you may be a victim of home title theft, there are several steps you can take to recover and protect your credit and financial future. The theft can result in legal issues, damage the homeowner’s credit profile and damage to the property itself. There are still risks even if the homeowner discovers the theft before the house is sold or enters foreclosure. If a property title is stolen, it may result in the homeowner losing their home through unauthorized sale or foreclosure. What Happens If a Property Title Is Stolen? ![]() If a deed or mortgage statement falls into the wrong hands, criminals can use the information to perpetrate home title theft. Losing important documents and allowing personal information to fall into the wrong hands can lead to home title theft. Homeowners can combat this by regularly checking their mailboxes and shredding mail that includes sensitive information. Once they have personal information like birth dates and Social Security numbers, they can use it to commit fraud. Home title theft can also occur through mail theft when thieves steal mail from a homeowner’s mailbox to obtain their personal information. Likewise, homeowners who access the Internet using unsecured public Wi-Fi are at higher risk for home title theft. They can then use this information to commit fraud or steal the homeowner’s identity. If a homeowner has an unsecured Wi-Fi network, criminals may be able to access their personal information if they’re close enough to the router. Once they have the information, they may sell it on the black market or use it themselves to commit home title fraud. Data Breachesĭata breaches occur when criminals access a company’s or organization’s personal information database. They may install it on the homeowner’s computer without their knowledge or trick them into downloading it by posing as a legitimate website or program. Malware is a kind of software that criminals can use to access a homeowner’s personal information. They may do this by sending an email or letter that looks like it’s from a bank or government agency or by calling the homeowner and pretending to be someone they’re not. ![]() Phishing occurs when a criminal pretends to be a legitimate company or individual to get a homeowner’s personal information. Here’s how home title theft typically happens: Phishing Theft can also occur if a homeowner loses sensitive documents like their deed or a mortgage statement. How Does Home Title Theft Happen?Ĭriminals commit home title theft in a few different ways, but the most common avenues are phishing schemes, malware, data breaches, unsecured Wi-Fi networks and mail theft. In the case of unoccupied homes, like secondary residences, the fraudster might sell the house without the owner’s knowledge or rent out the property without permission. The thief may apply for a home equity loan or line of credit in the homeowner’s name and then fail to make payments-exposing the owner to foreclosure and credit damage. Home title theft is a type of real estate fraud where someone uses a homeowner’s personal information to forge a deed and steal their home.
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