It’s a type of identity theft you may not have heard of before, but it could jeopardize one of your most precious assets. It’s called title fraud, and only an enhanced title insurance policy protects against it.
Recently the Washington Post included quotes from our company founder and CEO Todd Ewing in an article about title fraud that we were very excited to read: With identity theft threats, enhanced title insurance may protect you from losing your home to a scam.
“The most common title fraud involves someone stealing the identity of a homeowner and then applying for a mortgage or home equity line of credit and taking cash out,” Ewing said.
In other scenarios, a fraudster might refinance the mortgage, cash out the equity and then not pay the new mortgage, leaving you to deal with the foreclosure. A fraudster might target a vacant vacation home and use a forged deed to sell it for profit without you knowing.
In any event, enhanced title insurance will deal with fallout for you at no additional cost.
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