Mortgage Scammers Are Still Active - Are Your Clients Prepared?
News

Mortgage Scammers Are Still Active - Are Your Clients Prepared?

March 27, 2020
by
Navi Persaud

It happens all the time. You receive a call from an unknown number and chances are it's a scammer up to no good. Despite the U.S. Department of Housing and Urban Development's 60-day suspension on foreclosures and evictions, scammers are still trying to target homeowners during a very vulnerable time.

As mortgage professionals, there are some simple tips that you can give to your borrowers in order to help them eliminate the possibility of being scammed.

"Mortgage relief scams during the coronavirus pandemic can take many forms, from promising immediate relief from foreclosure or demanding cash for counseling services," according to Forbes.

These scammers are also posing as some of the largest agencies in the business. The report cites a scammer impersonating a Freddie Mac agent. In the scam, borrowers are offered low rates and a number of other ludicrous promises.

But there are simple and easy steps that you may want to remind your clients to take:

  • If you see a call like this, let it go to voicemail.
  • If you do happen to answer a robocall just hang up.
  • If someone leaves you a voicemail and it sounds too good to be true, chances are it is. In that case report it to the company that the imposter is trying to use to scam you.

The report also states that you should be aware of callers asking you to transfer the deed of your house in order to save your home.

Here are more ways to keep your borrowers safe from scams.

Written by 
Navi Persaud

Navi is the Director of Online Content for American Business Media in West Hartford, Conn.

npersaud@ambizmedia.com
Mortgage Scammers Are Still Active - Are Your Clients Prepared?
March 27, 2020 9:04 AM
by
Navi Persaud
News

It happens all the time. You receive a call from an unknown number and chances are it's a scammer up to no good. Despite the U.S. Department of Housing and Urban Development's 60-day suspension on foreclosures and evictions, scammers are still trying to target homeowners during a very vulnerable time.

As mortgage professionals, there are some simple tips that you can give to your borrowers in order to help them eliminate the possibility of being scammed.

"Mortgage relief scams during the coronavirus pandemic can take many forms, from promising immediate relief from foreclosure or demanding cash for counseling services," according to Forbes.

These scammers are also posing as some of the largest agencies in the business. The report cites a scammer impersonating a Freddie Mac agent. In the scam, borrowers are offered low rates and a number of other ludicrous promises.

But there are simple and easy steps that you may want to remind your clients to take:

  • If you see a call like this, let it go to voicemail.
  • If you do happen to answer a robocall just hang up.
  • If someone leaves you a voicemail and it sounds too good to be true, chances are it is. In that case report it to the company that the imposter is trying to use to scam you.

The report also states that you should be aware of callers asking you to transfer the deed of your house in order to save your home.

Here are more ways to keep your borrowers safe from scams.

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