Beware of SCAMS after Closing on your Home
The scams change and become more official looking every day. I had never heard of this one before, but I certainly see how it could have a great amount of success. Beware, beware!
The thrill of the closing day can be truly felt by the glow on the home buyers face in that conference room. However once you buy a home beware of the following scam that has been ongoing and targets newly home owners in the Northern Virginia area.
After you
sign the closing documents the deed and the note is recorded at the court house. This becomes a public record which includes your name, lien holders name, purchase price and the loan amount.
Now here is where the scam happens:
Very legitimate letter you'll get saying your loan has been transferred to another bank, and that you should start sending your payments to the new bank instead. Many times the lender you got your loan from may sell your loan after closing.
How to do you check if it is a scam or not?
Now, your loan might really be transferred to a new bank, but don't take the letter's word for it. Call your bank using the phone number on your loan documents (NOT the number on any letter you receive about the transfer!), and ask them to confirm that your loan was really transferred to who the letter says it was transferred to. If you don't have it handy reach out to the loan officer who helped you with the loan process. They should be able to confirm if and whom your loan has been sold to.
Image courtsey of http://www.freedigitalphotos.net
Associate Broker
EcoBroker, ABR, ePRO
NVAR, Life Time Top Producer
NVAR,Multiple Million Dollar Sales Club Member
Samson Properties
Cell - 703-625-4949
Email - info@eNOVAHomes.com
Web: www.eNOVAHOMES.com
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