anna7
06-29-2008, 06:47 AM
CON ARTISTS CAN STEAL YOUR HOME
June 29, 2008
The sagging housing market has presented swindlers with endless opportunities to prey on troubled homeowners. But even people who are making their payments on time are susceptible to being cheated out of their homes.
How? By stealing your identity, con artists can also steal your house.
In an up-and-coming scam noted by the FBI, a swindler establishes a line of credit in his name based on the equity in a property, then drains the house dry. In another ploy, the con man steals the house by changing the title over to his name and selling it out from under the owner.
Rightful owners really won't lose their houses. But the burden is on them to prove that they are indeed the real owners and that someone swiped their identities to carry out false transactions. And that could cost many hours and thousands of dollars.
Protect Your Identity:
Be sure to shred or cut up credit-card receipts, bills and bank statements before tossing them; remove your name from mailing lists for preapproved credit lines; be sure to keep your personal-identification number concealed when using an ATM; contact your creditor or service provider if you notice anything odd with a bill or if the bill doesn't arrive on time or at all; and update your computer's virus software. Also, don't provide any personal data over the phone or via the Internet unless it was you who initiated the contact. Also, don't put your Social Security number on your checks.
Read More About What Homes are Most Suseptible and the Con Artists Tactics:
http://www.latimes.com/classified/realestate/news/la-re-lew22-2008jun22,0,5559190.story
June 29, 2008
The sagging housing market has presented swindlers with endless opportunities to prey on troubled homeowners. But even people who are making their payments on time are susceptible to being cheated out of their homes.
How? By stealing your identity, con artists can also steal your house.
In an up-and-coming scam noted by the FBI, a swindler establishes a line of credit in his name based on the equity in a property, then drains the house dry. In another ploy, the con man steals the house by changing the title over to his name and selling it out from under the owner.
Rightful owners really won't lose their houses. But the burden is on them to prove that they are indeed the real owners and that someone swiped their identities to carry out false transactions. And that could cost many hours and thousands of dollars.
Protect Your Identity:
Be sure to shred or cut up credit-card receipts, bills and bank statements before tossing them; remove your name from mailing lists for preapproved credit lines; be sure to keep your personal-identification number concealed when using an ATM; contact your creditor or service provider if you notice anything odd with a bill or if the bill doesn't arrive on time or at all; and update your computer's virus software. Also, don't provide any personal data over the phone or via the Internet unless it was you who initiated the contact. Also, don't put your Social Security number on your checks.
Read More About What Homes are Most Suseptible and the Con Artists Tactics:
http://www.latimes.com/classified/realestate/news/la-re-lew22-2008jun22,0,5559190.story