March is Fraud Awareness Month, the perfect time to protect yourself from mortgage fraud! Scammers are getting more creative, but knowing what to watch for can help keep your finances safe.

• Common Mortgage Scams

One major scam involves fraudsters inflating a property’s value through multiple fake sales, securing a mortgage based on the inflated price, and disappearing—leaving lenders and buyers at risk

• Red Flags to Watch For

• Someone offers you money to use your name & credit to get a mortgage.
• You’re asked to provide false info on your mortgage application.
• You’re told to leave blank sections on your mortgage forms.
• The seller or advisor discourages a home inspection before purchase.
• A rebate or discount is offered without disclosing it to the lender.

Stay smart, stay protected! If something seems off, trust your instincts. In the next post, we’ll talk about title fraud and how to protect your home.