When looking for home loan financing, it more important than ever to be cautious and aware of possible scams. Here are some helpful tips for safeguarding your finances and identity during the loan process and in any other transaction.
In loan transactions, you will often get requests for supporting documentation. This usually includes documents that reflect your date of birth, full name, and often – your social security number.
Always be sure that when you share your documents – it is done securely! Highlands Residential Mortgage provides an easy-to-use secure portal for submitting documents. If you must email, please encrypt those documents and verbally provide the key to your Loan Officer.
If someone asks you for information and you don’t know who they are or why they are asking for it – call your Loan Officer! They can tell you all the players associated with your loan and whether it is a legitimate ask. If your Loan Officer is unavailable, contact our Highlands Residential Mortgage Corporate line and we will put you in touch with the right person to help! Always ask!
Scammers aggressively target the real estate market and go after unsuspecting borrowers. If someone emails you asking for funds to be wired for your closing – ALWAYS confirm with your Loan Officer.
We have seen instances where scammers send emails that LOOK like they are from the title company, but really aren’t! It’s very hard, if not impossible, to get those funds back. Check and double check before sending any funds for closing!