What happens when you cross mortgage fraud with technology? Answer: a completely new type of identity theft. It may sound like a bad joke, but for some, it’s a reality. The truth is that more homeowners are dealing with house theft than ever before. Rather than squatting or trying to take their home physically, thieves are using the Internet to steal the homeowner’s identity virtually. They are then signing the title of the home over to other people, effectively taking possession of a home that was never theirs. From there, the fraudsters can also take out loans, using the equity in the house as collateral. It’s a terrifying turn-of-events that often go unnoticed by homeowners until it’s too late. Property title protection is specifically designed to prevent acts like this from occurring. On top of catching property title fraud, these policies also detect and notify homeowners of any possible threats.
What Are Property Fraud Alerts?
Think of property fraud alerts as a security system for the title of your home. When you invest in a security system for your home, cameras and motion detectors act as physical protectors of your property. They detect break-ins and movement, sending you alerts at the first sign of trouble. Property fraud alerts work in a similar way. Instead of monitoring the physical location of your home, it monitors its security online. Criminals work around the clock to steal the personal information needed to access the title to your home and sign it over to them. With a property fraud system in place, you’re alerted when suspicious activity occurs, allowing you to take the necessary actions to protect yourself.
Who Needs Property Fraud Alerts?
Whether you’re a first-time homebuyer or you’ve lived in your home for decades, every homeowner needs title fraud protection. Landowners and business owners could also benefit from the security that title fraud protection provides. In reality, a property fraud alert is an in-depth identity protection service that ensures any land-ownership investments made are safe. While many people believe that their identity theft policy also covers the title to their home, that isn’t the case. Identity theft protection monitors any activity tied to a social security number. Property fraud protection specifically monitors land, commercial, and residential titles.
If you didn’t purchase a title fraud program when you closed on your property, it’s not too late. You can choose to begin protecting your title at any point. Once you begin coverage, the system will monitor your identity and your title to ensure that no fraudulent activity occurs. It may also retroactively search the history of your home to determine whether or not any liens or fraudulent activity has occurred with the title in the past, giving you even more peace of mind.
How Does the Alert System Work?
You may think your bank or insurance carriers may be monitoring your home’s title. Unfortunately, that’s not typically the case. For that reason, it’s important that you take a vested interest in your property’s security. With the stroke of a key, criminals can access your information, take control of your home’s title, and suddenly—you’re no longer the owner. Property fraud alert monitors your credit score and your home’s title to make sure nothing suspicious is happening with your identity. On top of regular monitoring, your fraud alert system will detect any signs of title fraud, mortgage fraud, equity fraud, online sales scams, liens, and wire fraud. By performing a property title search, it’s easy to determine whether or not anything has been filed on your title. Any documents filed are immediately reported to you with a detailed description. This allows for early detection should a fraud attempt be made in regard to your name or your home. Once alerted, you’ll be offered various resolution options to ensure that proper action is taken.
What Happens After an Alert Is Sent?
Suppose you’ve signed up for a monthly fraud protection-monitoring program. At some point, you may receive an alert signaling that fraudulent activity was discovered. The alert will be sent to you with a detailed description of when the activity occurred, where, and how. From there, the team managing your monitoring program will jump into action. With a list of options, you can decide exactly how to proceed. A dedicated legal team is also available to give you the advice needed to ensure that the situation is handled quickly and efficiently. This legal team could help to contact the appropriate parties, handle creditors, or work with local law enforcement as needed. Nothing will be done without your knowledge, but you can rest assured that you’ll have an entire team of professionals working together to resolve your case.
Is Title Insurance Different from Fraud Alerts?
Yes. Title insurance is typically purchased as protection for previous actions. It protects you from previous liens, fraudulent scams, or undiscovered heirs that occurred before you purchased the home. But it doesn’t monitor future activity. Title fraud protection provides ongoing coverage and monitors the activity of your home even after the point of purchase. It’s an extremely important protective measure that every title owner should have in place.
Don’t risk the investment of your home. Secure Title Lock is dedicated to giving you the peace of mind that you deserve. We protect our customers from property fraud with the help of our innovative property title protection. Our services are designed to continuously patrol the web in search of any fraudulent activity occurring in your name. If a document is filed on your behalf or in regard to your home, it will alert you and our experienced team of professionals, allowing us to handle the situation quickly. A property title search is all it takes for criminals to begin working on stealing your home. With the help of Secure Title Lock, that’s as far as they’ll get. Discover your options and begin protecting your home now by visiting us at www.securetitlelock.com today.