The views, thoughts, and opinions expressed are solely those of the author, and information provided is for entertainment purposes (see disclaimer)

 Help protect yourself against mortgage scams that can rob you of your life savings. 

If you think this could never happen to you think again. While I’ve NEVER experienced this personally, however I know someone who DID have to deal with this type of scam. Locally, right here in our county. It involved the theft of a large amount money, international fraud, federal investigation, fake emails and a lot of stress for all parties involved. I hope that by educating you on the potential risks, and best practives to safeguard yourself and your loved ones, that you will be aware and protected so you never have to experience this. 

Smart Steps To Keep Your Money Safe:

Always confirm how funds are delivered, especially if it involves a wire transfer, a last minute request, or a change in how money is requested to be sent.

Identify Trusted Contacts. This could include your real estate agent, closing attorney, mortgage loan officer, and other representatives for the parties involved in the transaction. Be sure to record their names and contact information to refer back to later. Only use the contact information you recorded personally, and NEVER use the contact information or links found in a suspicious email. 

Tip: If you’re not sure if an email is authentic, call your contact to confirm that they or a representative from their firm sent it.

Be Wary Of Last Minute Changes. Always verify by contacting your trusted representative, using the contact information you recorded yourself, to make sure these changes are legitimate.

Tip: When money is involved, it’s always a safer practive to verify digital corespondance (emails, links, even texts) with a phonecall or in-person confirmation directly with a trusted representative.

Avoid Clicking Links or Sending Sensative Information In Emails. This includes financial information and personal information that can be used for securtiy verfications (birth dates, prior addresses, social security numbers, bank account info, passwords, etc). 

Again,if you are not absolutely sure about a link or the validity of an information request, contact your trusted advisor directly using the contact information you recorded personally.

If You Think You Were A Victim Of A Mortgage Closing Scam, Contact Your Bank Immediately. Request a wire recall immediately. It’s also a good idea to file a complaint with the FBI’s Internet Crime Complaint Center: www.ic3.gov.

Tip: Since we’re taking about internet security here, did you consider if the above link is safe before you clicked on it? You can also do a google search for “FBI Internet Crime Complaint Center” and you will find the same link. This is one example of additional ways to double check the information you are given.)

Don’t Be Scared, Just Be Smart!

When we talk about security, along with best practices and steps to keep you safe and secure in your real estate transactions (and in life in general), it can be easy to scared by all the things that could happen.

Rest assured that people buy and sell homes every day, happily and safely.  Real estate transactions follow specific protocols with numerous professionals (such as your real estate agent, closing attorney, mortgage company, and supporting staff) checking every step to ensure that everything is going smoothly. 

~ Sarah