Measurement: Property Fraud Alert Subscribers
Property Fraud is when someone illegally uses your property for financial gain. The McHenry County Recorder’s Office offers a program where residents can sign up for the free Property Fraud Alert service. This service alerts subscribers when documents are recorded against their properties, their homes and/or businesses. Since this program began, 7,324 McHenry County property-owners have signed up to receive property fraud alerts.
Why is it important?
- According to the FBI, property fraud is the fastest growing white-collar crime in the United States.
- Without a property fraud alert, a criminal could record a mortgage against a persons’ home, take the money, and remain undiscovered for years.
- With the Property Fraud Alert service, a property owner will be promptly notified when any document is recorded using his or her name. If the property owner was not aware of this recording, he or she can take steps to undo the criminal’s actions and stop the fraud before more damage is done.
- Having a Property Fraud Alert service increases the likelihood of criminals being discovered, and lets them know that McHenry County is not the place to commit property fraud.
- The Property Fraud Alert service could also alert property owners to other useful information, such as when their mortgages have been sold to other financial institutions and when mechanic’s liens have been recorded against their properties.
Relationship to the Strategic Plan Long-Term Goal: Operate at the Lowest Possible Tax Levy
When one taxpayer suffers due to fraudulent recording against his or her property, the entire county suffers. Often, victims of property fraud are forced to file for bankruptcy to get out from under the property fraud. Their properties are foreclosed upon, and they may never become financially whole. If the County can help prevent some of the damage from property fraud, it can reduce the pain and suffering of the property owner and the cost to the community as a whole.
The McHenry County Recorder’s Office currently has over 7,324 residents subscribed for this service. The goal is to continue to bring awareness to this program throughout the County, and ideally have every property owner subscribe. The total number of subscribers will be reported on a quarterly basis. Success for this measurement means an increase in Property Fraud Alert subscribers.
To learn more about the services the McHenry County Recorder’s Office provides as well as the Property Fraud Alerts Program to please visit https://www.mchenrycountyil.gov/county-government/departments-a-i/county-recorder/services-provided.
To subscribe to receive Property Fraud Alerts, please visit https://pfa.fidlar.com/ILMcHenry.