A crime epidemic has hit the US that no one is talking about.
And we should be, because it impacts anyone who owns a home, townhouse or apartment. It’s called “home title fraud", a form of house-stealing that can leave people broke and literally homeless.
Here’s how it works:A cyber thief, or even someone you know steals your identity and transfers your home’s title to his or her name. It’s easy to do too, just a little paper work and a small fee. Once a crook has control of your title, they can transfer your home into their name, take out a loan and stick you with the payments, sell your home and even have you evicted. Or perhaps a relative or caretaker fraudulently changes a title to inherit a home willed to someone else.
Victims usually lose an average of $100,000 and losses in the last year alone were over 5 billion dollars. House-stealing is fast growing because there’s a significant payday and very little chance of being prosecuted. If it happens to you, your local police department will tell you to go hire a civil attorney.
But, there are things people can do to prevent it in the first place.