Sunday, December 9, 2018

Title Lock

My FedEx driver told me a scary story of a scam where identity thieves take out a HELOC (home equity line of credit) using forged IDs to borrow money against your house that you will be responsible for repaying.  Obviously a lender that is not on their game will be left holding the bag, but I can see how this might ruin several months getting this straightened out.  Anyone have, or know someone who has experienced this?

1 comment:

Zendo Deb said...

This is supposed to be getting harder to do, but it depends on how together the lender is.

And it should be stopped if you freeze your credit with all 4 (yes there are 4) credit reporting agencies. Though I can never name the last 1. And there is 5th one, which can be an issue if you have signed up with them to repair credit....