[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]

Originally Posted by Stu from NYC

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

[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]

Originally Posted by 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.

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

[Stu from NYC]

Originally Posted by EdFNJ

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

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]

Originally Posted by 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.

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]

Originally Posted by Stu from NYC

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]

Originally Posted by Stu from NYC

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]

Originally Posted by retiredguy123

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]

Originally Posted by Blueblaze

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]

Originally Posted by Luggage

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