The past ten years leading up to 2007-08 were amazing years for the real estate market. Home values were skyrocketing at double-digit percents across the entire nation and everybody was building up equity in their homes. Home loan providers and lenders capitalized on this thriving real estate market by providing second mortgages and home equity loans to people who had built up a significant level of equity in their property and wanted to access this equity as cash. It became routine to use your property as a virtual ATM machines by extracting the equity via a second mortgage or home equity loan and then using the money for whatever reason.
Every residential real estate transaction has both real and personal property. It is also possible for real property to become personal property and personal property to become real.
Each year the statistics seem worse and worse. Certain categories of statistical data rise, and the reports seem once again designed to keep homeowners shaking in their shoes. One particular category is extremely frightening, that of ‘property crime.’ To many homeowners, the thought of falling victim to a ‘property crime’ is so frightening because it encapsulates many fears such as waking to face an intruder in the middle of the night, or someone entering the home to forceful harm family members. The problem, however, is that not everyone knows what exactly constitutes a ‘property crime.’ There are several categories, each of which can be equally as detrimental to your safety and home security. Consider some of these top ‘property crimes’ and how to prevent them from happening on your property.