![]() 24, 2023, Home Title Lock is under “scrutiny” over questionable claims that might lead people to believe they need to pay the company to “lock” their titles. According to a government press release on Jan. Texas asked the company if it could back up its marketing claims - including the “exploding” title theft references. Six months after ABC News aired its investigative story, Texas Attorney General Ken Paxton’s office sent Home Title Lock a Civil Investigative Demand for documents. And the news team wanted to know: Has the company helped its customers recover titles, including by paying for homeowner’s legal fees, as its marketing materials have promised to do? Now, The State of Texas Is Questioning the Company’s Advertising to Seniors Referring to what is arguably the most deceptive element of the ads, ABC News pointed out that Home Title Lock didn’t actually present details of real-life fraud victims who recovered their titles due to the company’s support. It noted that some of the title “experts” in the commercials had vested interests in Home Title Lock. The investigative reporters asked if the deed fraud victims in these commercials were real, or actors. While Home Title Lock ads have, for years, called title theft “one of the fastest-growing” kinds of fraud for the FBI, the FBI itself didn’t say this. But for only $199 a year, listeners heard, Home Title Lock customers can protect their deed records, and even get help reclaiming the titles they’ve lost to fraudsters. ![]() ![]() In the ads, figures such as Newt Gingrich, Rudy Giuliani, and former FBI agents described deed stealing as a trend that’s “exploding” across the country. ![]() In mid-2022, ABC News took a look at some claims and celebrity spokespeople appearing in Home Title Lock commercials. Taking Advantage of Homeowners’ Fears? An Investigative News Team Looked at One Anti-Fraud Company In one deed fraud conspiracy, a notary was one of the people accused of stealing 11 Philly homes. Sometimes, notaries have been in on these acts. Philadelphia reported 53 cases during the same year. As reported by ABC News, New York City received 154 reports of deed theft in 2021. But deed theft didn’t end after the crisis. No wonder deed fraud was a big issue in the housing market meltdown of 2008-2009. ☛ Learn more about fraud that targets people who are struggling to make their mortgage payments. In other all-too-common scenarios, an outside business (not the homeowner’s mortgage company) persuades a struggling homeowner to sign over the property deed, promising foreclosure relief - and taking money from the target on top of all that. And an investigation into home equity theft began. In this case, the auditor’s office noticed something odd - a signature that didn’t match the same person’s signature on the prior deed. Then, after the owner died, the culprit started making cash payments on the property taxes. The plot? Steal the property before the homeowner died. A former public servant was charged with faking an elderly homeowner’s signature. How Can Someone Steal a Deed?Ĭonsider a real example from the Austin, Texas area. Quick reporting of deed fraud to the authorities might even prevent bad actors from getting loans on the real estate, or from transferring ill-gotten titles to other people. But the rightful homeowner’s quick response can limit the activities the culprits can carry out. If a fraud alert is triggered, it could mean someone has already tampered with a title. And help the seniors in your life sign up, too. If your own county recorder’s office offers automatic title alert services, it’s a good idea to sign up. That’s why many counties offer automatic alerts to homeowners when anything is recorded against their titles. And its consequences can be terribly costly. But Isn’t Deed Theft a Real Risk to Homeowners? Now, Texas Attorney General Ken Paxton has launched an investigation into Home Title Lock’s advertising. The company warns potential customers to “lock” their deeds, or they could be left homeless and mired in credit problems. The latest cyberthreat is home equity theft, warns the Home Title Lock company. Do Anti-Fraud Companies Overhype Deed Theft?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |