New Scam Hits the Mortgage-Real Estate Industry

A brand new fraud scheme has hit home buyers, and it’s taking victims from all Businessman running along sidewalk with oversized chequeacross America. Here’s what happens.

The borrower receives an email from their title company with instructions on how to wire their funds to close. The home buyers — or home owners refinancing — have been expecting this information, so when it comes in, they readily respond and wire their down payment and cash to close. BAM!

Unbeknownst to them, they have just sent their money to scamsters sitting in their evil darkness in God-knows-what-country. So far, these criminals have not been caught. And so far, these victims have not received their money back. How now are they going to be able to close on their home?

ALERT: Do not wire any money until you first pick up the phone and verify with your closing agent and loan officer that the instructions you have received are true and correct. Do not take chances — double check!

Please help get this information out via social media, because this is happening all across the nation. Thank you and be safe.