DAILY REAL ESTATE NEWS | MONDAY, MARCH 21, 2016<\/p>\n
The Federal Trade Commission and the National Association of REALTORS\u00ae issued a warning to consumers to be mindful of a growing mortgage closing phishing scam that could leave buyers with no down payment.<\/strong><\/p>\n In the warning, FTC and NAR say that scammers are hacking into the e-mail accounts of consumers and real estate professionals in order to access information about the closing date. The hackers will then send an e-mail to the buyer and pose as the real estate professional or title company. In the e-mail, hackers will say there\u2019s been a \u201clast minute change\u201d to the wiring instructions for the funds for closing.<\/strong> They will then instruct the buyers to send the funds to a different account, which really belongs to them.<\/strong><\/p>\n A buyers\u2019 bank account could be cleared out in a \u201cmatter of minutes,\u201d and they aren\u2019t likely to get it back, according to the FTC.<\/p>\n \u201cIf you\u2019re buying a home and get an e-mail with money-wiring instructions, STOP,\u201d the FTC posted in its bulletin. \u201cE-mail is not a secure way to send financial information, and your real estate professional or title company should know that.\u201d<\/strong><\/p>\n NAR is working with the Federal Trade Commission to warn consumers about this latest scam targeting buyers during closing.<\/p>\n \u201cBuyers should be wary of sending financial information over e-mail, downloading attachments, or responding to e-mail requests to wire money in a real estate transaction,\u201d warns NAR President Tom Salomone\u00a0<\/strong>Read More<\/a><\/strong><\/p>\n Source: \u201cHomebuyer Beware: FTC, REALTORS\u00ae Issue Warning on Mortgage Closing Cost Phishing Scheme,\u201d HousingWire (March 18, 2016) and Federal Trade Commission<\/p>\n Credit: National Association of Realtors- REALTOR Mag<\/p>\n","protected":false},"excerpt":{"rendered":" DAILY REAL ESTATE NEWS | MONDAY, MARCH 21, 2016 The Federal Trade Commission and the National Association of REALTORS\u00ae issued a warning to consumers to be mindful of a growing … [read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"_links":{"self":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/184"}],"collection":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/comments?post=184"}],"version-history":[{"count":2,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/184\/revisions"}],"predecessor-version":[{"id":186,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/184\/revisions\/186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media\/187"}],"wp:attachment":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media?parent=184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/categories?post=184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/tags?post=184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}