Home theft is generally used to refer to break-ins and robberies. However, a new kind of home theft has taken precedence – home title theft. The FBI first began issuing warnings about it in 2008, sharing that thieves and scammers had found a way of stealing people’s houses and that it often went undetected. This article explores the meaning of home title theft, how it happens, and offers tips and suggestions to prevent it.

Understanding home title theft
Home title theft or fraud occurs when someone steals a home by forging a deed using the homeowner’s personal information. They may choose to apply for a home equity loan or a line of credit in the homeowner’s name. Since the mortgage remains unpaid, this may result in foreclosure and credit damage.
Alternatively, scammers may also find an unoccupied home, such as a vacation or rental home. They may continue to sell or rent this property illegally without the knowledge or permission of the homeowner.
Fraudsters often target specific groups of people, such as those who have been victims of identity theft in the past, senior citizens, low-income households, vacant homes, and homeowners with paid-off properties.

How is a home title theft committed?
Most commonly, con artists and scammers tend to rely on the following ways to commit home title fraud:

• Phishing
  When a scammer pretends to be a legitimate business or company to get someone’s personal information, it is known as phishing. This illegitimate activity may occur online, via a phone call, or even through post.
• Malware
  It refers to rigged software that can be used to steal someone’s personal information. It masquerades as a legitimate application, website, or program to trick users into clicking or accessing the link/app.
• Data breaches
  A data breach occurs when scammers or hackers gain access to a company’s database. They may use the personal information that is stored themselves or sell this data on the dark web for monetary gain.
• Unsecured Wi-Fi networks
  Hackers can often access one’s personal information via unsecured Wi-Fi networks. They may gain access to one’s unsecured home network if they are close enough to the router or look for those using unsecured public networks to commit fraud.
• Mail theft
  Scammers may also steal one’s mail to secure someone’s personal information, such as their social security number, birth date, etc. This information may then be used to log into their accounts or set up new deeds and loans.
• Loss
  Losing one’s important documents or phones may also give scammers a chance to steal personal information.

Tips to protect oneself from home title theft
Homeowners can take several steps to protect themselves and their property from scammers. Some of these include:

• Get the home title insurance
  Purchasing coverage for a home title insurance policy can be beneficial. This policy can help protect the mortgage lender and owner in case of any conflicts that may arise post-sale against the owner.
• Monitor credit reports regularly
  Credit reports tend to fluctuate with loan acquisitions, property sales, and more. Keep a close eye on these, and flag any new accounts created or unauthorized activity made without your notice. One is entitled to a free annual credit report from the three major credit bureaus – Equifax, Experian, and TransUnion. Take this opportunity to review your credit reports regularly.
• Keep a close eye on incoming bills and mail
  One must also keep track of all their incoming bills and mail. If one stops receiving certain bills or important mail, it may be an indication that someone has changed their address. It is also essential to keep an eye out for any bills for loans or mortgages they did not sign up for.
• Check public records for any errors on the home title
  The local public records office maintains all the details regarding one’s title deeds. Check these property records and flag any suspicious activity on these, such as unfamiliar names or forged signatures.
• Practice cyber safety
  Use safe browsing tools such as virtual private networks (VPNs), antivirus software, password managers, phishing site protection, etc. These may help one steer clear of any suspicious websites that may try to steal one’s personal information. Avoid using public Wi-Fi networks as well.
• Exercise caution with personal information
  Hackers and scammers can gain access to one’s personal information in a variety of ways, including social media. Set any social profiles to private, so only known and trusted contacts can access details such as one’s address, date of birth, or phone number. Be sure to shred any unwanted documents that contain personal information, such as bills. Avoid sharing any personal information, such as social security numbers, credit card details, etc., over the phone to reduce the risk of home title fraud or theft.
• Keep a close eye on the property
  If one notices any suspicious activity around their home, report it to the police immediately. Installing a camera or a security system may also help with regular surveillance.

What does one do in case of a home title theft?
If someone believes they have been a victim of title theft, they must take these steps to secure their property and finances:

• Contact the main credit bureaus
  One must contact the three main credit bureaus and file a fraud alert. This may discourage any new fraud activity or new accounts. Dispute any unauthorized accounts that may appear on the credit report.
• File a police report
  Speak to the police and file a report. They can help begin the recovery process and avoid any further damage. If required, this will also give one legal ground in case of a lawsuit.
• Close any unauthorized accounts
  If new accounts have been opened in one’s name using the home title, contact the lenders and let them know. Have these accounts closed promptly.
• Retain all related documents
  Maintain a track of all records and documents that may be theft-related. This may be useful in case of any legal action.