Your new home is ready, your mortgage has been approved, and closing time is near. You have saved money for years for this day and the last thing you are thinking about is a scammer dampening your dream of homeownership.

If you are buying a home and get an email about last minute changes to any wiring instructions from an Orlando title insurance company, lender, or Realtor®, HALT, STOP, DO NOT GO!

Online phishers and scammers, otherwise known as hackers, are intercepting consumer and Realtor’s emails to get information about upcoming real estate transactions. After some investigating, the hacker obtains information regarding the closing date and sends an email instructing the buyer to send money to a different account. Of course, it is the hacker’s account!  If the buyer falls for the scam, their funds often clear their account in a matter of a few keystrokes. In most cases, the hackers are located in countries where it is then impossible to retrieve any of the consumer’s money.

Ways buyers can protect themselves

  • Always call to confirm wiring instructions, especially when there are “last minute changes.”
  • Be careful when posting information on social media about buying a house and any closing details.
  • Avoid and be suspicious of web based emails, such as @Hotmail.com, @gmail.com, and @yahoo.com.
  • Don’t email financial information.
  • Use “forward,” utilizing your own email address book and details instead of “reply” to respond to emails.
  • Do not open suspicious SPAM mail or attachments; they contain malware that gives hackers access to your PC.
  • Be careful when clicking on links and attachments regardless of who initiated the email.
  • Keep your security software updated.
  • Train yourself to be suspicious of all emails. If in doubt, go “old school,” and pick up the phone to confirm!

Please browse our Orlando title insurance company blogs for more tips for homebuyers. And call Real Estate Closing Solutions today to learn more about our services.