7/1/2023 0 Comments Home title lock![]() ![]() "I watched it late at night and I couldn't sleep," she said. While Barney said she did not appreciate the scare tactics, they raised concerns. They will monitor your title, 24/7, and alert you if there is any funny business. ![]() "All I know is that innocent children are out in the streets," said a woman identified as a victim in the ad.īut wait! Home Title Lock vows to prevent such a cruel fate for just $15. And then quickly mortgage or sell your home, without you knowing about it until it's too late. House Speaker Newt Gingrich, explains how cybercrooks can file a quitclaim deed to make your property theirs. I wouldn't want to lose my home that I've been paying on for however many years," Barney said. The Home Title Lock infomercial sure got Dana Barney's attention. The ominous ad is spooking homeowners across Utah, telling viewers that bad guys can steal homes right out from under homeowners.īut is it a service you really need to buy into? And how much of a threat is title theft? SALT LAKE CITY - "You have the perfect storm for a cybercriminal to steal your home," states an infomercial making a terrifying pitch for a subscription service that says it can shield your home from title theft. Reading or replaying the story in itsĪrchived form does not constitute a republication of the story. Unfortunately, none do.Only for your personal, non-commercial use. ![]() Wouldn't that potential expense make it worthwhile to consider buying title theft insurance? Perhaps, assuming the policy covered such expenses. That will require the assistance of an attorney. In the extremely unlikely event that someone goes go the trouble and risk of committing all these crimes, the cost of clearing the title is the biggest risk to a homeowner. The court may also require restitution for damages caused by the forgery, such as the costs of clearing the title. Kahler: Forgery is a felony in all fifty states, punishable by jail time and heavy fines. Light: And any such moves are against the law. If they show up in your driveway with a moving van, however, they-not you-are the ones at risk of losing their money. If a buyer is naïve enough to buy property without a legitimate appraisal or title insurance, it is possible they could be conned. No legitimate attorney or real estate firm will allow you to buy a property without this insurance. If a title company misses a defect, they must pay for any damages. It will alert the buyer or lender to any defects prior to closing. Title insurance protects buyers against defects in the title, including liens, fraud and forgery. Only the most naïve buyer will fail to obtain title insurance. Kahler: Even with a cash buyer, a thief's chances of success are small. Light: But there are cash deals in real estate. The required credit reports, employment and income verifications, back tax returns, appraisals, and title insurance are bound to alert you and the lender that something is wrong. ![]() Lenders, title companies, and real estate firms have so many safeguards in place that there is almost no chance a fraudulent transfer won’t be discovered. Third, it is next to impossible for the thief to mortgage or sell the property to a knowledgeable lender or buyer. ![]()
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