With the uncertainty in today’s world, it’s completely normal to feel ill at ease. But it’s important to note that when times are in flux, this is exactly when criminals pounce to take advantage of our vulnerable states as our attention is turned elsewhere. It’s a perfect scenario for an increased risk of property fraud, the fastest growing crime in America. The Federal Bureau of Investigation states that real estate fraud cost the US $1.8 billion annually in recent years.
Why do you need property fraud protection?
Because everyone who owns a home is vulnerable. Read that again. Think this isn’t the case?
- A young couple in Boulder, CO, recently forged 14 quit claim deeds totaling $2,875,000 in property value unbeknownst to the actual owners
- Mortgage holders in 14 states were forced into forbearance when Wells Fargo paused their mortgage payments without consent
- A couple in Newport Beach, CA, presented false documents and filed fake deeds for 3 homes totaling $5.9 million
Some municipalities including the Clerk-Recorders office in Orange County, CA, now offer courtesy notices alerting to any transactions dealing with real property, however, the physical alert will be mailed to the original property owner’s address within 48 hours meaning this after-the-fact system could be too late to save your property.
The key to property fraud protection is to be proactive.
According to DomiDocs and HomeLock™ Founder & CEO, William McKenna, “Just monitoring your title for changes only provides 50% coverage and is only triggered after the fraud or error has occurred. It’s an archaic, manual system, that’s basically like leaving a briefcase full of money at the bottom of your driveway. Our HomeLock™ system is built to catch fraud and errors, before, during, and right after the occurrence giving you the most accurate, early warning, and comprehensive protection available today.” HomeLock™ scans and monitors 200+ data points including:
- fraud detection for land, lot, and parcel
- daily property address monitoring
- MLS listing websites
- property rental websites
- social media websites
- purchase and sale websites
In comparison, simple home title and deed monitoring services only alert you to a problem after the fact and they don’t account for any errors made.
HomeLock™ is the most comprehensive property fraud protection system.
If heaven forbid something does go wrong with your property, HomeLock™ also provides fraud resolution services. Our dedicated HomeLock™ Fraud Protection team will assist you with up to 2 hours of resolution services annually including research on alerts found, resolution information for various sites, and in-house attorney fees. HomeLock™ membership includes $25,000 in legal services for fraud defense and a Cyber Insurance Policy offering $1 million in coverage.
HomeLock™ is the #1 rated property fraud protection system.
The primary company focus of HomeLock™ is to provide proactive property fraud protection with title and deed monitoring. Only HomeLock™ has:
- an early warning protection system that alerts before, during, and immediately after fraud or errors
- a secondary focus on residential property home management
- provides a 7-year title scan history report
HomeLock™ is rated 5/5 with both Google and the Better Business Bureau so you know you’re in good hands.
HomeLock™ includes our award-winning Home Management Platform
Committed to making your life as a homeowner as easy as it can be, DomiDocs is the go-to source for educational resources, along with home management features and tools, all designed to help you stay organized while giving you the functionality to save both time and money. Our digital home management platform includes:
- Calendar & Notes – track tasks, reminders, and events
- Document Organization – upload and categorize your vital property documents, that are then accessible and ready to be shared 24/7/365 from wherever you may be
- Education & Articles – home maintenance tips and articles to help manage your home stress-free
- Finance & Accounting – track your property cost basis and where your money is being spent
- Market Value Tracking – market data and your property improvements show the true property value of your home
- Recommendations – we give personalized, actionable recommendations specifically for your property
- Service Provider Management – all your service providers can be organized with your own ratings and personalized notes
- Warranties & Manuals – track your warranties and manuals with expirations, notes, and alerts
Since your home is probably the most valuable asset you own, you owe it to yourself and your family to secure your home with property fraud protection. Please read our HomeLock FAQ and if you can’t find your answer, feel free to email our USA-based fraud prevention experts today.
For more information related to property fraud, read:
And view our Property Fraud News and Videos.
Author – Connie Motz