Identity Theft of Property Title?
I am now hearing commercials for "Home Title Lock" protection at about $10/month. Is that really necessary? What if you've already signed up for ID protection with someone like Lifelock and put a "credit freeze" in place with Trans Union and others. Can someone really transfer the title on your home without you being aware? Does it make any difference if the home is paid off or you are still paying on a mortgage?
Terry Says
I think this is just a company trying to take advantage of the fear that has been generated by the Equifax breach. If your mortgage is already paid off, you are not vulnerable to this kind of identity theft. And who is going to pay off your mortgage to get title?? So just be sure you receive -- and pay -- your property tax bill each year on time. That's where the theft would show up, since the tax bill would go to the title holder. Many older Americans are not on the lookout for that bill -- or it is paid by the bank. You want to get confirmation of payment or pay the bill yourself to stay on top of your property taxes, and your property title.
