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Scammers Are After Your Mortgage Closing Money

Scammers Are After Your Mortgage Closing Money


By: Oana Schneider

Scammers Are After Your Mortgage Closing Money

FTC and BBB® would like to warn area residents of a scam that could take your dream home away from you. Here’s how this mortgage closing scam works: hackers will gain control over a realtor’s email and all the upcoming transactions featured there.

Then, the hacker will email the potential homeowner asking for money in the name of the realtor. The victim is announced that there’s been a small change of plans and that the closing cost money should be wired to a certain account. If you are in the process of buying a home and receive an email asking you to wire money, STOP and call your BBB immediately! Here’s what you need to do next:

  1. Call the company and your agent at a phone number you know to be correct!

    Ask them about the email you just received and don’t click on any links provided by said email!

  2. Avoid opening attachments.

    Even if the email comes from someone you know, there is still a chance that their account got hacked. Unless you are expecting an email from someone, don’t open it: delete, report and block!

However, if you’ve already sent money to a scammer, you need to act very fast:

  1. If the wiring was done through your bank, notify them immediately so they can stop the transfer.

    If you used Western Union, MoneyGram or another money transfer company, call their complaint lines as soon as possible!

  2. Report everything!

    Report your experience to your BBB, the FTC and to the FBI’s Internet Crime Complaint Center at gov. Also, if your bank needs a police report, you may use a copy of the ic3 report.

And remember: if you notice any suspicious activities on your email, credit or bank account, alert the authorities as soon as possible!

For more information you can trust, visit!

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Oana Schneider is our Director of Media Services. She writes consumer and business oriented articles and is in charge of our community outreach program.