CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
1021223-00006-00
Paul Sobotta, CLU®, ChFC®, CFP®, RICP®
Financial Planner
CA Insurance Lic. #4169793
Kyle Sobotta, CFP®
Financial Planner
Prudential Advisors
205 Washington Street
Arcadia, WI 54612
Phone: 608-323-7032
Fax: 608-323-7964
Email: paul.sobotta@prudential.com
September/October 2024
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.1081086-00001-00
Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing companies. 1-800-778-2255. Prudential and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Prudential, the Prudential logo, and the Rock Symbol are service marks of Prudential Financial Inc., and its related entities, registered in many jurisdictions worldwide. Prudential Advisors is a brand name of The Prudential Insurance Company of America and its subsidiaries.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
Prudential Advisors and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.