Post-storm Cyber-storms

Weathering Potential Post-Storm Cyber-Storms

Though it’s not usually top of mind, hurricanes and other natural disasters can be times when cyberfraud behavior increases even in the mortgage world. During chaos and devastation, it’s easy to overlook unusual activities or to be misled by seemingly “helpful” resources. Here are a few ways cyber tricksters may try to take advantage of vulnerable homeowners:

• Foreclosure Relief Scams: Afraid of missing loan payments, homeowners could get offers to stop foreclosures once an upfront fee is paid. Scammers may use phishing emails to look like they’re coming from legitimate agencies, such as the government or FEMA.
• Title or Deed Theft Scams: If fraudsters can access your online accounts and identity information, they may create false documents and attempt to transfer ownership of a home.
• False Claims of Mortgage Forgiveness: If it sounds too good to be true it probably is. Scammers could use fake websites and send emails or postal communication directing people to provide their personal information in order to apply for disaster relief online.

So, what can you do to protect yourself?

• Increased awareness is key. Remaining educated on the avenues fraudsters may take will prepare you if/when you’re faced with an unexpected opportunity.
• Regular monitoring. Keep an eye on your accounts and loan statements so you can identify when something doesn’t look right. Be sure to report any unauthorized activity immediately.
• Keep software updated. Regularly updating anti-virus and anti-malware software will ensure all the latest bugs are kept at bay.

Natural disasters can be a scary time for many, and they are also opportunities to grow closer to our communities and service providers. Don’t be afraid to reach out to your lender or loan servicer if you have questions or need support with your mortgage.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.