Scammers phish for mortgage closing costs
Friday, March 25, 2016The Federal Trade Commission and the National Association of Realtorsģ are warning home buyers about an email and money wiring scam. Hackers have been breaking into some consumersí and real estate professionalsí email accounts to get information about upcoming real estate transactions. After figuring out the closing dates, the hacker sends an email to the buyer, posing as the real estate professional or title company. The bogus email says there has been a last minute change to the wiring instructions, and tells the buyer to wire closing costs to a different account. But itís the scammerís account. If the buyer takes the bait, their bank account could be cleared out in a matter of minutes. Often, thatís money the buyer will never see again.