Mortgage fraud and identity fraud are real. Preventative measures can be taken.
Many of you already have title insurance. If you purchased a home in the last few years, your lawyer likely discussed its benefits with you and helped you purchase it.
THE EASIEST TARGETS OF MORTGAGE FRAUD ARE MATURE HOME OWNERS WHO HAVE THEIR HOMES PAID FOR. Sophisticated criminals have access to registry office records and assessment value records and therefore know who has the most unencumbered equity in their homes. As these people are equity stealers, they go where the money is. They will create a driver's license or other ID sufficient to hold themselves out as being the true owner of real estate. Then they will take out a large mortgage on your property and take the money and run. Shortly thereafter the real homeowner gets a letter in the mail asking why the payments are not being made on the mortgage that was just taken out on the property. And the nightmare begins.
Please take the time to examine your level of risk and exposure to this crime. Take the appropriate action to protect yourself. And sleep well knowing your home equity is safe.
