Protect your money from mortgage closing scams when buying a home
Every day, hackers try to steal your money by emailing fake wire instructions. Criminals will use a similar-looking (but fake) email address and steal a logo and other info to make it look like the email came from your real estate agent or title company. You can protect yourself and your money by following these steps:
Be Vigilant
Call, don't click: Verify all wiring instructions before transferring your funds. Call the title company using an independently obtained and known phone number. Don't use phone numbers or links from an email. Be Aware: It's extremely rare that wiring instructions will change at the last minute.
Protect Your Money
Confirm everything: Ask you bank to confirm the name on the receiving account before sending a wire. Verify Immediately: Within four to eight hours, call the title company to confirm they received your money.
What to do if You've Been Targeted
IMMEDIATELY: Call your bank and ask them to issue a recall notice for your wire. File a complaint with the FBI at www.IC3.gov. Report the crime to your local FBI office. Making a report within the first 24 hours provides the best chance of recovering your money.
For more information: visit nar.realtor/wire-fraud.