Are you aware that thieves and scammers can scam you out of your entire home without even setting foot on your property? Home title fraud is on the rise and it is one of the scariest forms of “home invasion.”
From 2015 to 2019, real estate and rental fraud grew at 2.6x the rate of credit card fraud, and today, reported real estate losses are occurring 2x as much as credit card fraud.
In the modern, online world, with personal information easily accessible online, scammers can transfer ownership of your home without ever breaking in. For instance, 2 Maryland women forged deeds to 6 houses and began renting them out without the real owners knowledge. In Manhattan, 4 people targeted 30 properties and sold them with forged deeds. In another case, an elderly couple discovered that their own grandson had mortgaged their home for $360k, then tried to sell their home right under their noses.
How can this even happen? Unfortunately, it’s pretty simple.