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Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

September/October 2024

The "New" Identity Theft

The New Identity Theft

As if stealing your personal information to access your bank accounts or open credit in your name isn’t enough to worry about, there’s another form of identity theft taking hold. Deed theft is a type of identity theft that targets your residence, second home or other property.


How It Happens
Thieves target a potential property — often a vacation home, second home or vacant property. Criminals forge the owner’s signature on the deed and sell the home to themselves or a third party. They then use personal information found on the Internet to assume your identity or to represent you when they record the deed with the county.


They’re Not Moving In
Once thieves have the deed to your property, they can:
  • Sell your home and keep the profit

  • Refinance the mortgage to cash out equity

  • Open a home equity line of credit

  • Illegally rent out unoccupied property


Protect Yourself
You can take steps to protect yourself and your property from deed theft.
  • Monitor your credit reports for loans you didn’t take out or for other suspicious activity.

  • Check for liens against your property from contractors, subcontractors or attorneys.

  • Visit vacant homes periodically to make sure no one is living in them.

  • Have your mail forwarded, kept at the post office or picked up by someone when you’re away from home.

  • Pay close attention to mortgage, tax, water and other home-related bills.

  • Check your county recorder’s office or local registry online for land records and property deeds. You may be able to set up notifications at the registry to alert you to changes.


If Something Is Amiss
Notify the register of deeds as well as law enforcement if you find evidence of deed theft or other criminal activity. Obtain a certified copy of the fraudulent document and consult an attorney.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
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