Scams Targeting New Homeowners

There is no shortage of schemes to defraud new homeowners. Here are a few to warn you about so you can avoid falling victim to them:

Partner Companies

A letter from a company claiming to be a partner with the homeowner's mortgage lender requests additional information for the loan. It is merely an attempt to gain personal or financial information.

Deed Processing Notice

A bill stating that the homeowner owes money for a copy of the deed or property assessment profile is a scam. Property deeds are mailed for free after a sale or transfer. Additional. copies can be ordered from the county clerk's office.

Business Imposters

Legitimate utility companies do not show up at a homeowner's door asking for payment through a money order, cryptocurrency, or other untraceable forms. They also will not ask to see the homeowner's bill or account information.

Loan Scams

Companies that contact homeowners to refinance shortly after closing may be making money on excessive loan fees-possibly even putting the homeowner in a loan with a higher interest rate. It's always best for the homeowner to research refinancing options instead of responding to a cold call or letter.

Traducir ake Wiring Instructions

Emails that arrive last-minute with new money-wiring instructions are almost certainly fraudulent. Always consult with your real estate agent before making any transfer, so you know what to expect and what not to do with the down payment funds.