Home Title Lock Reviews: To be clear, I do not work for Home Title Lock and do not receive any remuneration for my beliefs, unlike Newt Gingrich. However, as a lawyer who has fought house title theft since 2003, I am well-versed on the subject. Many YouTube videos pretending to be experts indeed fraud Persuade their viewers that there is no need to be concerned and that they do not want the services of a title monitoring service.
Is it worthwhile to pay for home title monitoring services like TitleShieldTM and Home Title Lock? Yes. Absolutely. Yes, as far as I’m aware. Take a look at the following: Even if your mortgage company demands it, most homeowners buy homeowner’s insurance, even if the chances of your home burning down are slim. People sign up for title monitoring services for the same reason. You should buy insurance in the hopes of never needing it, but if you do, you’ll be glad you did.
Title monitoring is not a substitute for title insurance; rather, it is a continuance of coverage that ends when the policy expires. Early detection of the fraudster is critical to reducing and reversing the damage they cause, as I indicated in a previous piece (What Does Title Insurance Cover?). Your home will not be monitored for title fraud by any title insurance firm. As a result, the investment in a home title monitoring system is highly worthwhile.
Home title monitoring services are Available
The number of counties in the United States is estimated to be around 3,143. Several of them have taken steps to provide title-monitoring services to their citizens as a means of combating deed fraud. Some of them will send a letter to the property address if a deed is recorded that pertains to your property. The application of this technique in Marin County, California may be found here. Unfortunately, this snail mail strategy only helps a little in the fight against title fraudsters.
The majority of deed fraud culprits are the elderly’s carers family members, friends, or someone who is employed to look after them. Even if the county mails a notice to the victims, they never receive it since the mail is controlled by scammers. Furthermore, the process of sending and then delivering the notice might take so long that by the time the notification is received, the thief may have already taken out a mortgage or sold the property. A more advanced kind of notification is available in about 120 to 300 counties. It’s free to sign up for the program, and homeowners will receive an email anytime title paperwork is filed.
In the remaining 2,147 counties, homeowners can pay for private title monitoring services
One of three key private title monitoring services in the country is TitleShieldTM, which I established based on my two decades of fighting title fraud in court. Newt Gingrich has been employed by Home Title Lock to market its services. LifeLock recently expanded its identity theft protection services to include title monitoring. During this fight, I was stationed in the trenches. All organizations provide basic title monitoring services; however, each company provides a distinct set of additional services. I feel TitleShieldTM is the finest because of my personal experiences defending the rights of scores of victims of deed fraud.
What does it mean to Defraud on a Deed?
I went into great depth about this crime in a previous article: Is It Possible to Steal the Title to Your House? Yes, although not exactly, according to the short response. By conducting deed fraud, you might make it appear as if you sold or gave away your home, or that it was foreclosed on. They take away your ability to shape the future of your home as a result of this. Once they have your home title, they can take out a mortgage or sell it to unsuspecting buyers. Unless you agree or a judge decrees it, you cannot legally forfeit your home title.
Home title theft has been more common in recent years, according to anecdotal evidence. Between 2015 and 2019, there were more than 3,000 reports of title fraud in Brooklyn alone, according to a recent NY Times investigation. The Dallas County prosecutor’s office has discovered more than 90 examples of deed fraud in the last two years, and they believe there are many more. ‘Organised crime syndicates have discovered home title fraud as an easy and lucrative way to fund their criminal operations in Los Angeles, according to real estate fraud detectives, so you can assume that all or most organized crime groups are aware of this money-making opportunity or will be in the near future.’
The lock on your house’s Title
The solution to the problem of title fraud is a home title lock. In truth, a house title lock is a company that provides title fraud insurance, which is required when the crime occurs. A house title lock is increasingly becoming a requirement because no one wants to lose the title to their property due to fraud, such as title theft. One of the most important things you can do to minimize the financial ramifications of losing your property’s title is to protect your house title.
Owner’s Title Insurance: Do You Need It?
Most people refuse to buy a simple insurance policy when they buy or refinance a home, despite the fact that it might be disastrous to their finances. Consider this: When you refinance, you get rid of Bank A and repay them with a loan from Bank B. Of course, money can be seized while it is being transferred from one bank to another. Even if you conducted a good faith refinance, you may still owe money on both mortgages in certain states. A homeowner’s title insurance policy might have saved the day in this scenario.
If and when someone challenges your ownership and title to a piece of property, you are protected with owner’s title insurance. Myth: If you buy a house and pay for title insurance, you will be covered. This isn’t the case, as it turns out. The bank is the only one that is covered by this insurance.
Is there anything that can be done to stop the spread of title fraud?
What is the best approach to deal with title fraud, which is a serious felony that can have a huge influence on your life? What can you do to avoid title fraud? A home title lock is a solution. People will now be curious as to what “title lock” is and whether it is beneficial. Continue reading to learn whether or not a title lock is required. In the end, the cost of title monitoring at home is definitely worth it.
A house title monitoring service is inexpensive, and believe me when I say that having the peace of mind that someone else is keeping an eye on your title is definitely worth it. The process of resolving the crime of house title theft gets significantly easier if you obtain an early warning that someone is tampering with your title. The presence of such a service would have been extremely beneficial to my clients, who were the unlucky victims of this crime.
