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:

  1. 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....