It seems that criminals come up with a clever, new way to steal your money every day. You know about ID theft, ATM skimmers and ransomware attacks where cybercriminals lock up your computer until you pay a ransom.
These are all relatively new crimes. In fact, while you know about them as a Komando.com reader, many people don't even know that cybercriminals steal billions of dollars every year from people just like you.
Still, there is a devastating new crime that you may not even know exists. It's called title fraud and, simply put, criminals steal your home then kick you out of it or drain its equity.
The most terrifying part about title fraud is that you may not know you've been victimized for years! The good news is that our sponsor Home Title Lock can protect your most expensive investment, your home, for about $0.33 a day.
How Cybercriminals Steal Your Home
The average cost of title fraud is over $100,000. Criminals literally take the title to your home.
Just think about all the years you and your family have been working to make mortgage payments. You pay taxes on your home, insurance and often homeowners association dues.
If you're like most homeowners, you've spent a lifetime going to work, paying your bills and saving money. Finally, when your home is paid off, you can rest easy. But that's when the unthinkable happens.
You find out that you no longer own your home. A criminal has taken the title on your home by simply walking into your county recorder's office.
They fraudulently transfer ownership from you to them. Once they've got the title to your home, they can legally kick you out it or use its equity to take out money and live a lavish lifestyle on your hard-earned money.
What is Equity Theft?
How much is your home worth? Have you recently checked?
Home prices have been soaring the past few years in many parts of the country. The home you purchased for $100,000 could be worth $300,000.
Is your home's value your retirement plan? You've heard that people get rich off their home - if you've owned it long enough and you live in a hot real estate market, you could retire on its value.
You can sell your home and use the equity you've built up to buy a smaller home and invest the rest. That dream can be shattered by home title criminals, though.
Once they legally have the title to your home, they can simply walk into a bank and use the equity that you built up to take out a loan to pay their bills! Title fraud happens far more often than you might think - roughly 20 million homeowners are at risk right now.
Equifax Hackers Can Steal Your Home
We've been telling you for years about ID theft. The recent data breach at Equifax, one of the companies that give you your credit score, was one of the worst in history.
At least 143 million people were affected by this historic breach. If you're among them, your Social Security number and a lot more sensitive information are in the hands of cybercriminals.
Worse, do you know your property deed, including your signature, is most likely online? All you have to do is check your county assessor's website and type in your address.
You'll be shocked to find all your private information about your property is right there for crybercriminals to steal. That often includes your signature.
"If someone goes into a county recorder’s office with a properly filled out and notarized deed, the recorder’s office is obligated to record the document," according to the Orange County Register. "Bam! Just like that, you can potentially get fleeced."
Bonus Video: Home Title Fraud, How It's Done and How to Protect Yourself
Home title fraud is a terrifying new crime. Cybercriminals can easily put your home in their name then evict you from your home or steal its equity. Be sure to protect yourself with our sponsor Home Title Lock - Try it risk-free for 60 days!
Click on the video below to watch former FBI agent and Title Lock Senior Advisor, Arthur R. Pfizenmayer, speak about this horrific crime. Watch the whole video to hear his advice on how to protect your home.
Don't wait! Protect your home and its equity with our sponsor Home Title Lock - Try it risk-free for 60 days!