Man loses $4M house to title fraud

[stinkynuts]

 

[Phil C. McNasty]

Always get title insurance.
It only costs a couple of hundred bucks

 

[superstar_88]

get a home equity line of credit from a bank

 

[Pancakes1]

Always get title insurance.
It only costs a couple of hundred bucks

This. Not sure why its not mandatory.

 

[xix]

get a home equity line of credit from a bank

What does this do?
Please explain / expand.

 

[Butler1000]

What does this do?
Please explain / expand.

Puts a lien on the house. Can't be transfered or sold without clearing it.

 

[xix]

Puts a lien on the house. Can't be transfered or sold without clearing it.

SO like a bank line of credit?
Without taking any money out, so there is no interest to pay but it always there. And this causes a lien?

 

[Butler1000]

SO like a bank line of credit?
Without taking any money out, so there is no interest to pay but it always there. And this causes a lien?

Yup. Or actually use it for some repairs, pay off all but 100 bucks and pay the 5 buck a year interest payment. And you have it already in case of another emergency repair.