Home Title Monitoring

[ithos]

Seen many advertisements lately about a company that will protect you from losing your home due to title fraud.

Removing you from your home's title takes just minutes. Then they forge their name on the title document and refile it. Next, they take out loans using your home's equity and stick you with the payments.

They charge $15 a month.

For those in the know, is the risk worth paying for their service? Or are their alternatives?

[Stu from NYC]

Alternative is title insurance

[EdFNJ]

Alternative is title insurance
It seems they are different things for different purposes. "Home Title Lock" (company) is like credit monitoring except it's for your title.


Home Title Lock: Is It The Same As Home Title Insurance? - Clark Howard (https://clark.com/homes-real-estate/home-title-lock/)

[Mrprez]

Everything I have read is that it is a waste of money. They can’t “lock” your title. All they do is notify you via email that something has taken place after the fact.

[retiredguy123]

Everything I have read is that it is a waste of money. They can’t “lock” your title. All they do is notify you via email that something has taken place after the fact.
I agree. It is a total waste of money.

Lake County has a free property fraud alert notification system where you can register your email address with the records office and link it to your name. If any activity is made using your name, you will receive an email. I don't know if other counties have a similar system.

[ithos]

It seems the biggest risk is if you have to hire a lawyer to restore the title to your name. But there may be other more comprehensive legal or credit services that protect you from title fraud and much more for the same amount of money.

Title Lock Insurance is a waste of your money (https://www.fox5atlanta.com/news/title-lock-insurance-is-a-waste-of-your-money)

[Stu from NYC]

It seems they are different things for different purposes. "Home Title Lock" (company) is like credit monitoring except it's for your title.


Home Title Lock: Is It The Same As Home Title Insurance? - Clark Howard (https://clark.com/homes-real-estate/home-title-lock/)

Since title insurance is a one time payment why sign up for $ 15 per month for years and years?

[Blueblaze]

It scares me to death, but I don't think those "title lock" companies offer a real solution. I just made my computer remind me to check it myself once a month. Sometimes I actually even do it! Which is probably more protection than $15/mo would buy you.

The government that posted your private information on-line for all to steal could solve this easily themselves by simply sending a letter to the owner to require written confirmation before recording a transfer of ownership. They certainly have an address to send it to.

Of course, no county does this. Maybe we citizens should ask our representitives to fix this.

[retiredguy123]

It scares me to death, but I don't think those "title lock" companies offer a real solution. I just made my computer remind me to check it myself once a month. Sometimes I actually even do it! Which is probably more protection than $15/mo would buy you.

The government that posted your private information on-line for all to steal could solve this easily themselves by simply sending a letter to the owner to require written confirmation before recording a transfer of ownership. They certainly have an address to send it to.

Of course, no county does this. Maybe we citizens should ask our representitives to fix this.
Lake County has an online service where you can link an email address to your name and be notified of any activity related to your property.

Mailing something to your address may or may not get to you because scammers look for properties that are not occupied.

[ithos]

Since title insurance is a one time payment why sign up for $ 15 per month for years and years?

As mentioned before Title insurance does not protect against acts of fraud after the home sale is complete.

[EdFNJ]

Since title insurance is a one time payment why sign up for $ 15 per month for years and years?


#1) I didn't (I just answered the question you asked and posted a link explaining the difference) :)
and
#2) As in my reply to you they are 2 totally different things and serve 2 totally different purposes (if one wants to spend the $15/mo). Having one does not preclude having the other if someone THINKS it's beneficial. To some $15/mo is a lot and to others a mere pittance and worth the "advertised" peace of mind. I'm in the "former" group myself. ;)

[Blueblaze]

Lake County has an online service where you can link an email address to your name and be notified of any activity related to your property.

Mailing something to your address may or may not get to you because scammers look for properties that are not occupied.

That's awesome! Unfortunately, I'm in Marion. And what's to keep a thief in Lake County from setting themselves up to get the email on the property they're trying to steal?

I don't know what the answer is, but the moment the gooberment decided to put our property titles on-line, they became responsible for securing it from theft. I just think we the people ought to hold them accountable.

[Luggage]

Thanks, did not know that. Who do I contact??

[danglanzsr]

I don't know what the answer is, but the moment the gooberment decided to put our property titles on-line, they became responsible for securing it from theft. I just think we the people ought to hold them accountable.

The deed for your property and your mortgage have been publicly available at the clerk of court's office since about 1066AD. To protect against real property fraud all real estate transactions must be in writing and all transfers of real estate have to be recorded and indexed and publicly available. Putting the information on-line just made it more convenient to access it.

[retiredguy123]

Thanks, did not know that. Who do I contact??
To sign up for the Lake County notification service, go to:

Fraud Alert Sign Up - Lake County Clerk of Circuit & County Courts (https://www.lakecountyclerk.org/administrative_services/Recording_Notification_Service.aspx)

[MandoMan]

Seen many advertisements lately about a company that will protect you from losing your home due to title fraud.

Removing you from your home's title takes just minutes. Then they forge their name on the title document and refile it. Next, they take out loans using your home's equity and stick you with the payments.

They charge $15 a month.

For those in the know, is the risk worth paying for their service? Or are their alternatives?

Complete scam! You already paid a lot for title insurance when you bought your house. Do not fall for it.

[rpalumberi]

To sign up for the Lake County notification service, go to:

Fraud Alert Sign Up - Lake County Clerk of Circuit & County Courts (https://www.lakecountyclerk.org/administrative_services/Recording_Notification_Service.aspx)

thanks

[ithos]

Complete scam! You already paid a lot for title insurance when you bought your house. Do not fall for it.

Once again. It is not the same. Not even close. Monitoring services are not insurance and Title insurance does not cover fraud perpetuated after the closing.

See post 3.

How to Protect Your Home From Deed Theft | Kiplinger (https://www.kiplinger.com/article/real-estate/t048-c050-s002-how-to-protect-your-home-from-deed-theft.html)

[ithos]

I should have been more specific. I meant Lenders Title insurance.

What is lender's title insurance? | Consumer Financial Protection Bureau (https://www.consumerfinance.gov/ask-cfpb/what-is-lenders-title-insurance-en-163/)

What is owner's title insurance? | Consumer Financial Protection Bureau (https://www.consumerfinance.gov/ask-cfpb/what-is-owners-title-insurance-en-164/)

[KRMACK55]

Seen many advertisements lately about a company that will protect you from losing your home due to title fraud.

Removing you from your home's title takes just minutes. Then they forge their name on the title document and refile it. Next, they take out loans using your home's equity and stick you with the payments.

They charge $15 a month.

For those in the know, is the risk worth paying for their service? Or are their alternatives?
These people are the same folks that do the car phony warranty, home warranty and take over your home warranty after a year when you buy your house here. The corporate umbrella is massive and it’s overpriced doesn’t do what they promise. These companies are unregulated and naive people believe this stuff out of fear.

If you own your house have no mortgage privately you should purchase transunion credit report NOT a subscription and monitor yourself. The scammers focus on those with mortgages but have a large equity stake because in Florida you can find out everything. That’s why they’re commercials all hype grab your money

[KRMACK55]

It seems they are different things for different purposes. "Home Title Lock" (company) is like credit monitoring except it's for your title.


Home Title Lock: Is It The Same As Home Title Insurance? - Clark Howard (https://clark.com/homes-real-estate/home-title-lock/)
It does nothing you find out just like credit monitoring AFTER the fact.

[TNLAKEPANDA]

I could be wrong but I thought that title insurance only guarantees your title at the time of purchase for prior title issues. It does not guarantee anything after the date of purchase. A quick call to any title company will answer the question.

Home title lock is like Life Lock insurance. Many people here have no mortgage so they could be prime targets. All insurance is a waste until you need it or wish you had it!

[Mrprez]

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[Bonsai Golfer]

Seen many advertisements lately about a company that will protect you from losing your home due to title fraud.

Removing you from your home's title takes just minutes. Then they forge their name on the title document and refile it. Next, they take out loans using your home's equity and stick you with the payments.

They charge $15 a month.

For those in the know, is the risk worth paying for their service? Or are their alternatives?

It seems there are two issues here. One is the possibility that someone could forge documents to make it appear you have sold your home to them. I'm not sure the best way to deal with that. However, the second is that they then take out a mortgage in your name and you are stuck with the payments.

The second of these can be easily dealt with. Simply put a lock on your credit report with the three credit reporting agencies, Equifax, Experian and Transunion. Then no one will be able to take out a mortgage on the property. It is very easy to put a lock on your credit report on-line with each of these companies and you can temporarily remove the lock if you need to apply for credit. You must do this sperately for each of the companies. There is no charge to do this. Make sure to put a lock on the credit report of any co-owner of the property (for example, you and your spouse).

[retiredguy123]

I could be wrong but I thought that title insurance only guarantees your title at the time of purchase for prior title issues. It does not guarantee anything after the date of purchase. A quick call to any title company will answer the question.

Home title lock is like Life Lock insurance. Many people here have no mortgage so they could be prime targets. All insurance is a waste until you need it or wish you had it!
That is correct. But, paying someone every month to do something that you can easily do yourself is just not cost effective. And, how would you even know that they are doing anything?

[Nick B]

Rudy Giuliani did some ads for them I trust Rudy