Episode•October 17, 2019•7 min

What is Home Title Fraud and How Do I Protect Myself? | Ep. 14

Tiffany talks about home title fraud, a fast-growing cybercrime that has gained a lot of traction in recent years. Listen up to see what it is and how to protect yourself! Links www.moneytalkwitht.com To pull your FREE credit reports, follow these steps: https://www.moneytalkwitht.com/finance-blog/credit-part-1 Connect with Tiffany on Social Media Facebook: Money Talk With Tiff Twitter: @moneytalkwitht Instagram: @moneytalkwitht LinkedIn: Tiffany Grant YouTube: Money Talk With Tiff Channel Pinterest: Money Talk With Tiff This podcast uses the following third-party services for analysis: Podcorn - https://podcorn.com/privacy OP3 - https://op3.dev/privacy

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Key Takeaways

1
Home title fraud is a fast-growing cybercrime where thieves steal your identity to transfer property ownership into their name.
Thieves can take out loans or home equity lines of credit using your property as collateral
Victims may continue making mortgage payments while unknowingly no longer owning their home
The crime is described as rare but one of the fastest-growing schemes in the country
2
Place a credit freeze on all three credit bureaus to block unauthorized loans or credit lines.
A freeze prevents thieves from accessing your credit to secure loans against your home
Freezes are easy to lift when needed and have protected the host for over three years
Also stops other forms of identity theft such as fraudulent medical visits
3
Open and review every piece of mail that arrives at your home.
Shred documents containing personal or financial information instead of discarding them
Verify bill accuracy to catch unauthorized charges or price increases
Prevents thieves from harvesting data from household trash
4
Regularly verify property records at your county deed office.
Confirm that ownership information listed matches your records
Early detection of title changes is critical for recovery

Intro

Tiffany discusses the rising threat of home title fraud after discovering it in a financial magazine and realizing many listeners may be unaware of this cybercrime.
Tiffany Grant is the host of Money Talk with Tiff, a podcast focused on personal finance, debt freedom, and money education.

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– Discovery of Home Title Fraud

Tiffany shares how reading a financial magazine led her to learn about home title fraud, a crime she previously didn't know existed.

Home title fraud occurs when someone obtains the title of your property, usually by stealing your identity somehow. And then they change the ownership on your property title from your name to theirs.
– Tiffany Grant

– How the Fraud Works

Thieves transfer property titles into their own names and may use the home as collateral for loans or HELOCs, leaving victims unaware until serious financial damage occurs.

You're happy-go-lucky paying on your house and then all of a sudden it's not even yours anymore.
– Tiffany Grant

– Protect Yourself: Credit Freeze

Tiffany strongly recommends freezing credit at all three bureaus when not actively applying for new credit. This blocks thieves from opening loans in your name.

I have had my credit reports frozen for at least like three years now... None of that stuff can happen when your credit is frozen.
– Tiffany Grant

– Protect Yourself: Mail & Bill Monitoring

Open every piece of mail, verify bill accuracy, and shred sensitive documents. This prevents identity thieves from obtaining personal data from discarded mail.