What is property fraud and how do you protect yourself from it?
According to the news, property fraud cases are rising. It’s a growing problem that property owners need to be aware of. If you haven’t heard about it yet, we’ll be covering some helpful information on property fraud so you can take the necessary measures to protect yourself from damages.
What is property fraud? Property fraud is when someone illegally uses your property for financial gain. It happens when someone fraudulently records a document, like a deed, to make it look to the outside world that the criminal is the true owner of your property. The criminal will then try to borrow against your property or sell it to unsuspecting victims. Property and mortgage fraud are the fastest growing white-collar crimes, according to the FBI.
As alarming as it sounds, we have some great news for you if you live in Orange County. The Orange County Comptroller’s Office has a free notification service called Property Fraud Alert. It can immediately notify you if anyone records a document that matches your name or business so you can stop them before any real damage is done. You can sign up easily by going to www.propertyfraudalert.com.
If you have more questions about how you can protect yourself from property fraud or any real estate related concerns, don’t hesitate to call or email us. We’ll be happy to help!