New Orleans Real Estate | New Scam Targets Home Buyers

New Orleans Real Estate News

New Orleans Real Estate News

I can’t think of many things that are shadier than someone stealing your money. Unless it’s someone that steals not just your money, but every single penny you were using for the down payment on your New Orleans real estate purchase.

It’s happening across the country as scammers hack into REALTOR® and title company email accounts and sit back and watch the communication between buyers and their representatives. When it gets close to closing day, they then create an official looking email, right down to the signatures of the real estate agent or title attorney, and send wiring instructions that divert your closing funds into the hacker’s account.

While all of this is going on, neither the agent nor the title company have a clue that they’ve been hacked.

How can you protect yourself?

Never, ever email your wiring information or cash transfer instructions. Instead, call the title company and give the information directly to them over the phone.

Be very careful before you click on links within an email, even if it’s from what you think is a trusted source. Go directly to the company website.

Keep your operating system and security software up to date – old versions can often have bugs that allow hackers easier access to your information.

What does the government say?

The Federal Trade Commission (FTC) posted about this phishing scam here: Scammer phish for mortgage closing costs

If you find that you’ve been a victim of this scam, you can file a report at ftccomplaintassistant.gov.

 

New Orleans real estate and home buying advice

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