You’ve probably read about the identity theft problem. Where a criminal gets credit cards in someone else’s name, charges up lots of bills and the unsuspecting person begins to get debt collectors’ calls and mail and .

Some of these people have taken this an additional step. Not only do they get credit in someone else’s name but they mortgage the victims’ homes and take off with the money. In the Detroit area, the US Attorney filed charges against a ring of thieves who stole the identity of elderly homeowners with significant home equity and obtained large loans secured on the homes. The case was filed as a bank fraud because the penalty could be a 30 year maximum sentence while identity theft is only a 3 year maximum.

The Federal Trade Commission has a toll free hotline where consumers may report thefts, and to aid law enforcement 1-877-IDTHEFT, or 1-800-438-4338.

What a horrible thing to do to anyone but to do this to an unsuspecting senior who may have limited resources! This information is from the National Senior Citizens Law Center Washington Weekly, May 31, 2002 issue. They have a web site with information to minimizing the risk of identity theft at www.nsclc.org/idtheft/html.