Wednesday, September 28, 2022
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they played me i lost my house

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When buying or renting a property, or refinancing your mortgage, the last thing you want to worry about is getting conned. Regrettably, crooks are becoming increasingly inventive in their methods of targeting consumers. According to data from the Federal Bureau of Investigation’s Internet Crime Complaint Center, more than 13,600 victims reported real estate or rental fraud in 2020 alone.
Here are five frequent real estate and mortgage scams to be aware of, as well as recommendations on how to avoid becoming the next victim of a con artist. Someone claiming to be from the title or escrow firm sends you an email, phone call, or text with instructions on how to wire your escrow payments.

Scammers utilize spoofing techniques to make phone numbers, websites, and email addresses look legitimate, but one number or letter is incorrect — an easy mistake to make at first sight, according to Melinda Opperman, chief relationship officer at Credit.org, a nonprofit credit counseling firm.

So you follow the wiring instructions and assume everything is fine when, in reality, you’ve just become the next escrow fraud victim. Who are the con artists? They’ve taken the money out of an offshore account and are sailing off into the sunset with your hard-earned cash. Meanwhile, you’re stuck with a limited number of choices for retrieving it.

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