Why pay for something when you can get it free?
Have you seen or heard the many ads for title theft services on TV, social media, and talk radio? “Title protection” companies are aggressively claiming that title theft is “sweeping the nation” and is “one of the fastest-growing crimes” in America. These misleading and persistent ads urgently warn of a scam called home title theft.
While title theft is a real crime, it is very rare. Criminals don’t get away with actually stealing your home. So why all the deceptive ads? Because the companies that offer title monitoring services charge $200 a year or more. For an additional fee, they offer to help victims recover losses if their property is targeted.
The Truth
It’s true that anyone can claim to own your property. Just like anyone can lay claim to the Brooklyn Bridge. But can someone really steal the title to your home right out from under you? If you believe the commercials from these “title protection” companies, you may think so. Their headlines are shocking and sensational.
But they are wrong.
A criminal can fraudulently claim ownership of someone else’s home. They would do this by filing a phony deed with a county government. The purpose would be to con a lender into giving them a loan against the property or to try to sell the property. Actually stealing a home like this is more difficult than it sounds….
