Beware of Fraud
Protect Yourself Against Mortgage Fraud
Mortgage fraud is a serious issue that can cost you time, money, and peace of mind. As a consumer, staying informed is your first line of defense. Follow these tips to avoid falling victim:
Verify Professionals: Work only with licensed mortgage brokers (like us), lenders, and real estate agents. Use your state’s licensing database to confirm credentials.
Be Wary of Upfront Fees: Legitimate lenders won’t ask for significant payments upfront. Be cautious if you’re asked to pay before any services are rendered.
Review Documents Thoroughly: Don’t sign anything you don’t fully understand. Look out for blank spaces or unusual terms in contracts.
Guard Your Personal Information: Only share sensitive information like Social Security numbers or bank details with trusted professionals.
Trust Your Instincts: If a deal seems too good to be true or you feel pressured, walk away.
Report Suspicious Activity: If you suspect fraud, contact your state’s Attorney General, the Federal Trade Commission (FTC), or the Federal Bureau of Investigation (FBI).
Stay Safe from Mortgage Phishing Scams
Mortgage phishing scams are on the rise, targeting unsuspecting homeowners and buyers through fraudulent emails, texts, or calls. Protect yourself and your financial information by following these critical tips:
Verify the Source: Be cautious of emails or messages claiming to be from your lender or title company. Always verify their authenticity by contacting the company directly using official contact information.
Watch for Red Flags: Scammers often use urgent language, ask for immediate action, or provide links to unfamiliar websites. Avoid clicking on suspicious links or downloading attachments.
Protect Your Login Credentials: Legitimate lenders and financial institutions will never ask for your online banking passwords or login details via email or phone.
Secure Your Communication: Always use secure and encrypted platforms for sharing sensitive documents or information with your lender.
Double-Check Payment Instructions: Before making any payments, especially for closing costs or wire transfers, confirm the details directly with your lender or title company through a trusted contact.
Monitor Your Accounts: Keep an eye on your bank and mortgage accounts for unauthorized transactions or unusual activity.
Report Phishing Attempts: If you suspect a phishing attempt, report it to the Federal Trade Commission (FTC) and our team immediately.
Your vigilance can protect your finances and personal information. Stay informed, stay alert, ask questions, and take steps to protect yourself. Mortgage fraud doesn’t just affect individuals—it undermines the trust and integrity of the entire housing market.
Need trusted guidance? Reach out to us for secure and professional mortgage services you can rely on.
