A New ID Theft Threat

June 5th, 2008 12:48 PM

ID theft is still very much alive and out there.  However, it has taken a new, scary twist. 

 

The Federal Bureau of Investigations recently reported the new scourge of "house stealing", a marriage between mortgage fraud and identity theft (ID theft), both of which are now staples of organized criminal activity.

Here's how it works:

· A grifter chooses a house and assumes the identity of the homeowner, often using the Internet to obtain personal information. The information is used to create fake identification papers.

· The culprit then transfers the deed into his or her name using forged documents, signatures and fake identification, but by filing the paperwork with the proper authorities. Now they "own" the home.

· In one variation, the house thief steals the home and then sells it to pocket the profits -- even if someone still lives there. In another variation, crooks prey on homeowners in financial trouble. They promise to refinance the mortgage, but instead "buy" the home using fake identities.

How can you protect yourself?

1.  Your first clue would be to suddenly see a lot of mail coming to your address with another name on the mail. 

2.  County records are available to view, by anyone.  You can take a trip to your local county records office to ensure you still have title to your house. 

3.  County recording offices have been alerted to this new threat, and are trying to develop methods to catch this crime, before the deed is recorded. 

4.  If you don't yet own a shredder, think about purchasing one, OR take advantage of shredding services offered all over town.  I know that Office Max offers shredding for a very low price. 

5. Identity Theft companies are aware of this new threat, and are looking into ways to add it to their protection. 

6.  If your homeowners insurance has ID theft protection, check to see if this type of house theft is covered. 

7.  New companies are springing up offering House Title ID theft protection.

 

If any of you know of, or can think of other methods to protect yourselves, please let me know, and I'll pass your ideas on.   

 

Whatever, you do, be sure to protect yourself by "knowing who you are doing business with."

 

Be careful out there. 

 

Warm regards,

Shelby 

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