Scam Alert: Rent and Mortgage Cons

Written by Jay M. Kelley III in Consumer Protection on May 10, 2021

Better Business Bureau (BBB) issued a warning about scams that target people who need help paying their rents or mortgages.

Details

There are many legitimate organizations that can help renters and homeowners with their monthly payments. Unfortunately, many fake “organizations” and “charities” also exist. Their aim is to take advantage of the economic crisis. They contact vulnerable renters and/or homeowners and offer financial assistance.

These scams usually start off with a call, email or text that states you can get money for rent. You may also be offered legal help to avoid eviction. No matter what kind of help they promise, these crooks always ask for money or personal information upfront. This is an obvious sign that it’s a scam.

Types of scams

• Lender impersonation scams
• Foreclosure relief scams
• Rental scams

BBB tips to avoid being scammed

• Do your own research.
  • Check the company’s profile on BBB.org.
  • Search the internet for the name of the company contacting you, plus the words “scam,” “fraud” or “complaint.” See if there are scam reports.
  • Check out BBB Scam Tracker.
  • Ask family, friends and/or neighbors for recommendations.
• Watch for red flags.
  • It’s a sign of a scam if a company tells you to stop paying your rent or mortgage.
  • Never give out personal or financial information without confirming the identity of the person you’re speaking with, even if you called them.
  • Ask your contact for credentials. Research the company the person claims to represent first.
  • Reach out to your landlord or mortgage lender to answer any questions or concerns.
• Report suspicious activity.
  • If you’re victimized, report suspicious activity to the appropriate authorities.
    • These include the Federal Trade Commission, the Attorney General’s office and BBB.

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