Avoiding Real Estate Wire Fraud

by Tim Hart | Apr 1, 2021 4:35:00 PM

Is Wire Fraud a Real Threat?

Wire fraud is here and something you need to be aware of when buying a home. Hackers can pose as a title company and send you the wiring instructions for your transaction. It will look identical to the title companies wiring instructions except the account number will be different. Once you wire the money to the wrong account, the money is gone. Horrible situation.

Check out this video to learn some tips to avoid wire fraud in your real -estate transaction.

 

When you are getting ready for your closing and you are ready to wire the funds, you will receive wiring instructions from the title company.

But it is important to remember to CALL your title company directly and verify the wiring instructions.

I would even recommend googling their number or contacting your closing agent directly, instead of taking the phone number off of the instruction email, just in case.

And if you are ever unsure who to call, give your lender a call! We can always lookup your title company and agent for you.

I do Mortgages for a living, if I can ever help you buy or refinance a home let me know!

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Born and raised in Southwest Florida, I have been in the Mortgage business since 2001 I'm a grizzly, battle tested mortgage veteran. I am also the Host of Rates & Reels, which is the most popular fishing show in Southwest Florida, hosted by a guy named Tim. In my spare time I love spending time with my family, coaching baseball, and anything else my kids or wife want me to do. I would be happy to help you or someone you know with any of your Mortgage needs.

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