Home title lock8/15/2023 ![]() Here are the homeowner characteristics scammers are most likely to target: Thieves of house deeds are most likely to target properties owned by people who meet certain criteria. RELATED: Solved! What are Closing Costs? Scammers are most likely to target certain types of homeowners. However, these numbers include all types of real estate fraud, and home title fraud represents just a small portion of those crimes. In 2021, there were 11,578 reported cases of real estate fraud, totaling more than $350 million in damages. Anyone can be a victim of home title theft, but the FBI says that house stealing is not a common real estate crime committed against homeowners. While scary, deed fraud is an uncommon occurrence for most homeowners. Home title theft is not a common type of property crime. ![]() Once the home title is in the scammer’s name, they may try to sell the property for their own profit or borrow money against your home equity. Next, scammers use this stolen information to transfer a property’s title to their own name. ![]() They then steal the homeowner’s identity by acquiring sensitive personal information, such as their social security number and date of birth. In home title theft cases, con artists choose a homeowner or property to target. Home title theft (also known as title fraud, deed theft, or house stealing) is a crime that combines identity theft with mortgage fraud with the goal of stealing homes. Read on to learn more about title fraud, potential warning signs you may be a victim of title theft, and how to protect yourself and your home from fraudsters. To learn more about the benefits of title insurance and how it can protect you, please click here, call us at 1. that may sound worrying, the good news is that home title theft is not as common as you may think, and there are multiple ways homeowners can protect themselves against home title fraud. Plus, until the title is restored, you will be unable to sell or mortgage your home, potentially derailing important financial plans.Īlthough title insurance can’t prevent you from becoming a victim of fraud, it can protect you from many of its consequences and the resulting stress. If you are a victim and don’t have a title insurance policy in place, it can take considerable time, money and effort to deal with having to restore your title and/or remove any fraudulently registered mortgages. Unlike credit card fraud, title fraud puts the onus on you as a homeowner to prove that real estate title fraud has occurred.
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