You can protect your property from fraud
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Did you know that one in every 131 mortgage applications is estimated to contain fraud? That’s according to CoreLogic’s Annual Mortgage Fraud Report. Sadly, I see mortgage and property fraud often in the Marion County Recorder’s office. The good news is that you can take steps to prevent serious consequences that may result from fraud.
The Marion County Recorder’s office offers a free Property Fraud Alert service for residents and businesses. This fraud alert service gives notice to those enrolled in the program any time their name is included in home ownership or mortgage documents filed in the Recorder’s office. Too often homeowners are unaware that their homes or other properties have been stolen. This no-cost service gives them powerful knowledge and enables them to take action.
Since I took office in January, Property Fraud Alert sign-ups in Marion County are up more than 10%, but I want to see even more Central Indiana residents protected.
Property owners can visit propertyfraudalert.com, click on Indiana, then select Marion County from the drop-down menu to enroll. You can receive alerts by email, text, or phone call. Nearby Johnson County is also participating in the program.
Here is an example of how this service might help: Suppose a scammer files a bogus property deed that looks like the actual property owner transferred ownership to someone else. The con artist could then take the deed to a bank, obtain a fraudulent mortgage and walk away with thousands of dollars. Individuals participating in the Property Fraud Alert service would be notified as soon as the bogus deed was filed and could halt the scam in its tracks.
Property Fraud Alert can’t stop the initial fraudulent act but it can alert individuals to take action if they determine possible fraudulent activity has taken place.
I recommend that all property owners consider using this service and I especially encourage the elderly, those living in long-term care facilities, absentee property owners, and snowbirds who spend part of the year in warmer climates to consider signing up. It just takes a few minutes to register and can potentially save you many future headaches.