You may have noticed a recent uptick in fear-mongering ads for home title lock services popping up in the news or in your favorite podcasts and YouTube ads. These services claim to alert homeowners if their home's title is tampered with or fraudulently transferred. But is it a legitimate concern or an expensive gimmick? Flotilla is here to help you understand what services such as Home Title Lock actually do versus what they claim, and how you can protect yourself from home title theft.

First, it's essential to be aware that some of the "news stories" about title lock services are often “sponsored content” rather than unbiased journalism—i.e., an ad disguised as a news story. These stories tend to make title theft seem to be a more significant problem than it is, and present title lock services (the companies behind the news story) as the solution.

The truth is, homeowners can protect themselves as well or better with a little bit of diligence, know-how, and FREE monitoring tools provided by local county & credit bureaus.

What Title "Lock" Services Do (and Don't Do)

Title lock services are not title insurance, and they don't prevent title theft. Instead, they're a monitoring service that alerts you after a transfer of your home's title. These services monitor public records, which homeowners can already access for FREE.

One actual benefit that Home Title Lock provides is their “Restoration Team” that collaborates with legal experts to restore the rightful ownership of the home if your title is stolen—but the question remains if this justifies the $20 per month cost (or $200 per year, or $800 for four years).

What the FTC Says about Title Lock Services

The Federal Trade Commission (FTC) advises consumers to be cautious about title monitoring services, stating…

“If you’ve seen ads for home title lock insurance, they might have you worried…the ads tell you to buy title lock insurance to supposedly prevent home title theft. Stop. Take a breath. It’s just a ploy to scare you.”
https://consumer.ftc.gov/consumer-alerts/2024/08/home-title-lock-insurance-not-lock-all

Protecting Yourself from Home Title Theft

To protect yourself from home title theft, consider the following steps...

1. Check Your Home’s Records
   Regularly review your property records on your Oklahoma County website. This will help you stay informed about any changes or filings related to your property.
   
   
2. Utilize Free Alert Services
   The Oklahoma County Clerk’s Property Alert System offers a free alert service that notifies you of any filings related to your property, similar to what title lock services provide (register here).
   
   
3. Verify if You Have Title Insurance
   Contact the title company you used when purchasing your home to confirm whether you have a title insurance policy in place. Title insurance is typically a one-time fee (in stark contrast to the monthly renewal fees of title monitoring services), it often includes coverage for legal expenses, and can even continue to protect the heirs of a home.
   
   
4. Monitor Your Bills
   Keep an eye on your mortgage, property tax, and utility bills. A sudden stop in receiving these bills could indicate potential identity theft.
   
   
5. Monitor or Freeze Your Credit
   Title theft often coincides with identity theft. Regularly check your credit report at AnnualCreditReport.com and consider freezing your credit with each of the credit bureaus to prevent identity thieves from opening new lines of credit in your name. A permanent credit freeze (you can unfreeze as needed) can save a ton of financial headaches in the event of identity theft.
   
   
6. Report Identity Theft
   If you suspect that you’ve fallen victim to identity theft, visit IdentityTheft.gov to report your case and begin the recovery process.

Conclusion

Title lock services are not "locks" as their names suggests, but rather a monitoring service that alerts you after a title transfer. While Home Title Lock does connect you with a support team of lawyers & experts if your title is stolen, the cost might not be justified when you consider the free alternatives available.

By taking the steps outlined above, you can protect yourself from home title theft without spending extra money on a monitoring service!

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