Want to dig a little deeper? Here’s what you need to know about a home title lock. Title protection is basically a monitoring service that, for around 15 a month, checks the public record periodically and sends you an alert if there are new deeds, liens, loans, court findings, etc. Do You Need Home Title Lock Insurance, or Are There Better Alternatives In the United States, title lock insurance continues to be heavily marketed, but is it necessary The reality about title fraud is that it is rare and hardly ever successful. But many counties have a system where you can register for notification for activity that may occur on your title.”Ĭlark says companies that promote home title locks “are really only doing for a fee what counties now providing the email notifications for free are doing anyway.” You refer to the concern that the transfer of ownership of your home from you and your wife as individuals, to you and your wife as trustees, might nullify your title insurance coverage, depending upon the terms of your policy. so essentially all you’re paying for with Home Title Lock is insurance protection against losses. “There is a rare event of somebody trying to steal the equity out of people’s homes. Do you need to purchase insurance How do you prevent home title theft. ![]() Use a service like Home Title Lock to automatically monitor changes to your home title. ![]() How it Works Property Fraud Articles FAQ. Is this just another product marketed on the basis of fear? Is there any difference in concern or threat level of this title theft happening if you own your home outright instead of having a mortgage?” Clark’s Take on Whether You Should Pay To Lock Down Your House TitleĬlark asked five real estate lawyers, and they all said the same thing: Paying a company to put a lock on your home’s title is a waste of money.Ĭlark says: “This is, for the most part, a solution looking for a problem.” Texas authorities are investigating the marketing claims of Home Title Lock, the anti-fraud service promoted by Rudy Giuliani and other right-wing personalities. In this guide, we’ll give you everything you need to know about home title fraud so you can protect yourself and your family against a complex, costly crime that could change your life forever. Do You Need To Pay To Protect the Title to Your House?īob from Georgia asks: “I’ve heard commercials about basically locking down your house title and how you can protect your title for a fee. Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.
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