The Mortgage Payment Scam has been around a long time. Mortgages are recorded in the local county courthouse and are therefore public information.  It is just as easy for a criminal to get a hold of this information as anyone else, so be mindful of any solicitations you get in the mail regarding your property.

How does it work?

A member may receive a letter from a company other than their known mortgage company indicating that they purchased their Freedom mortgage and future payments are to be make to them, not us.  This is the entire SCAM.  Freedom does not sell the servicing of our mortgages to anyone.  If you receive such a letter, please disregard and report it back to us.

How can I protect myself from this type of scam?

Do:

• Be wary of any solicitations demanding immediate payment or warning that you are late on a payment that is not from your known mortgage provider.
• Call your mortgage provider to confirm that there have been no changes to your loan servicing agreement.
• Report the letter to your credit union.
• Use the Consumer Finance Protection Bureau’s online portal to file a mortgage-related complaint
• Report any suspected scams to the Better Business Bureau (BBB). Don’t let those crooks walk free!

 Don’t:

• Make a payment to anyone who is not your known mortgage lender without verified proof from your original lender.
• Share any personal information with an unverified contact. If it’s personal info, make sure to keep it that way!
• Click on links or download files from an unfamiliar email address.

Stay safe!

Freedom keeps all loans, including mortgages, in house for the duration of the loan term.  Your loans will not be sold to any other management company.  If you receive something suspicious via text, email, or mail, please don’t hesitate to reach out if you are unsure.  

Your Turn: Have you encountered a scam like this before? Tell us about it on Facebook, LinkedIn,Twitter, or Instagram @FreedomFedCU.