Identity Theft Criminals Buys $400,000 Home with No Money Down

It started simply with a lost wallet found by an identity thief,
who used the a D.C. area man's identification to purchase
a $419,000 town house with no money down - and then
moved in.
















The identity thief even paid the monthly mortgage payments
and moved into the house, according to the Washington Post.

"I'm guilty of all of this"

Yesterday, Cabrera-Rivera, 40, pleaded guilty
in Arlington County Circuit Court to identity fraud,
credit card theft, conspiracy and obtaining a loan
under false pretenses. She was taken into custody
from the courtroom after weeping through much
of the brief hearing. She is scheduled to be
sentenced Nov. 9, when she faces a minimum
two-year prison sentence on the fraud charge
and up to 20 years on the theft charge.

This identity theft case is highly unusual as the criminal
just didn't steal cash or consumer electronics, but
purchased a house and made the monthly payments.

It seems the American dream of home ownership even holds
a strong appeal to identity theft criminals who will utilize
"creative financing" using someone else's good credit.

So, our tip for today is to guard well your financial and credit
identities. At least twice per year, it is a good practice to get
your name check for any unauthorized mortgage or other
public record changes to your profile.