Many investors and homeowners are not aware of the potential dangers posed by identity thieves when it comes to their real estate investment.
Regrettably, real estate title fraud is on the rise. According to a resent study completed, real estate industry insiders have now the average case of real estate fraud at $300,000. In comparison, the authorities estimate that the average credit card fraud case is about $1,200.
Protect yourself and your investment with these tips:
1. Check your own credit report at least once a year, check your financial and bank statements regularly for inconsistencies, unknown charges and unauthorized credit inquiries.
2. Never give out your personal information in person, over the phone or on the Internet unless you truly know and trust who you are dealing with, how it will be used and if it will be shared. Companies like PayPal can greatly increase your protection from credit card fraud.
3. Protect your mail, be alert to billing cycles and when bills or mail haven’t arrived. Make sure you shred personal information before you through it out in the garbage.
4. As a former private investigator one of the first things we use to do was swipe the garbage of the person whose file we were working on. We found a lot of personal information. .Make sure you shred everything
5. Try speak to a mortgage professional about how title insurance could help protect your investment.
6. Get advice from a real estate expert who is licensed in your area when shopping for a home. Someone well known in the industry or a strong recommendation from a close friend or relative.
Hans Anderson
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