There’s a reason business scams are so prevalent: criminals want the most bang for their buck, so it should come as no surprise to anyone that homeowners are the newest target.
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As much of the home-buying process goes digital, which means large amounts of money moving around, scammers are finding their way around, targeting both homeowners and people buying and selling.
Police are warning homeowners about “out-of-town” scammers trying to buy, sell or rent vacation homes they don’t own.
It can happen to anyone
a Minnesota Women I recently received a shocking phone call regarding my husband’s financial problems: He hadn’t paid off a loan from years ago, and the caller told me that they were going to foreclose on my husband’s house.
The mysterious caller gave the woman a case number and a phone number to call for more information, which she did, and received more information about the loan.
Scammers are using fake mortgages and other fraudulent methods to scam homeowners, buyers and sellers out of their money. (Feverpitched/iStock)
Her husband Determined But he never took out a loan. Luckily, the woman was smart: She called the county recorder and was told there was nothing on file against their property.
It’s all a scam, and homeowners all over the United States are falling victim to it.
Who is your target audience?
If you own a home, you’re a target, plain and simple.
One of real estate scammers’ favorite tactics is to scare their victims into thinking they owe money. The only way to avoid losing the property? Pay up now.
Your car is a target. Don’t let it be hacked or tricked.
Lender Intention Secured loans give them the right to seize your property if you don’t repay. But the good news is, there’s always evidence to back it up. (We’ll explain how to find that evidence below.)
Scammers also target homeowners who are on the brink of foreclosure. They contact the victim promising to save the day if they pay them cash. They call the homeowner and: Refinancing Their home.
Buying a home?
Scammers are also targeting you. They will create fake property listings to trick you into putting down a deposit. They may pose as an escrow company and ask you to wire money.
This is what happened to a New Jersey couple who were scammed out of $32,500 in the process of purchasing their dream home. The scammers faked email correspondence with their attorney, the seller’s attorney, and their real estate agent. The couple down paymentThey gave their savings to the scammers.
Scammers are willing to fake entire email conversations to get what they want from you. (Photo by Peter Dazeley/Getty Images)
You may wonder how anyone could fall for such a scam, but it was very simple. The address of the scam email was: One character It’s not the real thing.
The lesson here is to always triple check that your email address matches up with your other communications.
Sign up for free notification alerts
The best way to protect yourself from real estate scams is to be proactive. Some counties offer free email, voicemail or text alerts when your name appears on a property document (such as a deed).
10 Voice Scams to Watch Out For – Immediate Action Plan
Unfortunately, there isn’t a comprehensive, centralized directory where you can search for services in every county, but there are some options.
- beginning, Check out this website Check to see if your county has a free alert partnership.
- Your county may offer alerts through its own service. Search”[your county name] + County Recorder” or “[your county name] + County Register of Deeds” to find your county’s official .gov site. Then, type “Real Estate Scam Alert” into the site’s search bar to avoid scam links.
- If you still If you haven’t heard anything, your best bet is to call your county recorder directly – they should have a contact number on their official website.
Do you have a friend thinking about buying or selling a home? Don’t let them become a victim. Share this story to help keep them safe!
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