Letter to the Editor
Editor,
Thank you for publishing suggestions regarding identity theft.
I’d like to share another useful suggestion that applies to those who own their home outright.
The idea is to arrange a small line of credit with your home as security. In most cases, your local bank or credit union will not charge you for this, and there is no need to actually borrow any money.
However, by doing this, you have placed a recorded lien on your home, and so if someone tries to arrange a sale or mortgage of your home (illegally – by attempting to steal your identity and your property), the institution with whom you have arranged the line of credit will be notified and will contact you, the actual homeowner.
This is not my own idea, by the way; it came from a financial advisor writing in one of the papers, and it is very cheap insurance. Worth considering.
Kind regards,
Jay Miller, Meaford
