Fairfax, Virginia ( journaltag) July 6, 2021 – Mathis Title Company, a Fairfax title company, recently created a blog explaining what is home tile fraud. Home title fraud is a serious concern for homeowners but can be avoided with careful attention to your personal information.
Home title fraud occurs when someone obtains the title of your property, usually by stealing your identity, to take ownership of your property by changing the name on the title to their own. They can then secure loans by using your equity as collateral. Most homeowners are unaware of what happened until their lender threatens to foreclose on the home when these loans go unpaid. Phishing emails and other electronic scams are common ways to get the personal information needed to commit this type of fraud, particularly as more home transactions are conducted online. Instances of title fraud are increasing, and people who own second homes or investment properties and elderly people are often primary targets.
To protect yourself from home title fraud, pay attention to your finances and important records. Check your credit score regularly to spot unauthorized financial action, and ensure that you’re receiving all of your bills on time, as a sudden stop can indicate identity theft. Review your deed at the county deed office to verify that nothing has changed and that your property is still in your name. If you suspect foul play and are unsure of how to proceed, contact a title agent for support. Title agents are well-versed in how to spot and avoid various types of home fraud.
Speak to Mathis Title Company for more information about avoiding home title fraud or for support if you suspect you’ve been a victim of identity theft. An experienced title agent like Robin Mathis, who has experience in both the legal and real estate industries, can help homeowners concerned with home title fraud. Contact Mathis Title Company online at https://www.mathistitle.com/ or by phone at 703-214-4020. The company is headquartered at 11325 Random Hills Road, Suite 160, Fairfax, VA 22030.