Tips for Avoiding Mortgage Scams

Spot Common Red Flags

Scammers are always looking for opportunities to swindle you out of what is rightfully yours. This is especially true in times of financial uncertainty. Scammers attempt to steal the money and identities of customers by forging paper documents. Most often, a scammer will illegally place a lender or bank logo on a form letter and demand that action occur, such as payment to participate in a phony promotional offer. It’s important to be careful when you receive communication that looks suspicious. If you’re worried about a communication you’ve received, please do not hesitate to contact us directly at 855-690-5900.

Be Cautious of Unusual Payment Method Requests

Freedom Mortgage will never ask for—or accept—payment in retail gift cards, preloaded debit cards, bitcoin, or through payment services like PayPal, Venmo, or CashApp. Any request for payment using these methods is a scam. These payment methods are hard to track, and it can be difficult to get your money back.

The safest way to make a payment is by logging in to your Freedom Mortgage account. Remember, Freedom Mortgage will NEVER ask you to make your mortgage payment by:

• Prepaid debit card
• Major credit card
• Department or specialty store credit card (Walmart, Target, Amazon, Kohl’s, Macy’s, etc.)
• Preloaded retail gift card (Walmart, Target, Amazon, etc.)
• Venmo, PayPal, CashApp, Apple Pay, or other 3rd party payment platforms
• Bitcoin or other cryptocurrencies

Anyone asking for your mortgage payment by these means is a scammer. If you have any questions or concerns, call the number on your monthly mortgage statement, NOT the number on the communication in question.

Stay Alert Regarding Government Program Offers

Be on the lookout for correspondence saying you’ve been preapproved or otherwise qualified for a government loan program. While Freedom Mortgage does send out preapproval offers, something that seems unrealistic or “too good to be true” should be a red flag. No government programs currently exist that will pay off your Freedom Mortgage loan. Freedom Mortgage may reach out about certain mortgage loan modification programs that you might be eligible for. However, our customer service representatives will always refer to our main servicing number: 855-690-5900. If you have questions or are doubtful about any communications you receive, especially if they’re regarding loss mitigation or avoiding foreclosure, please contact us at 855-690-5900.

If you are contacted by someone claiming to be from a government agency program that wants your money or personal information, ignore it. Your caller ID may even display the name of a government agency when requesting this information. However, caller ID screens can be faked. The same scam applies to emails, texts, and social media messages. The U.S. Department of Housing and Urban Development (HUD) does offer a network of housing counseling services, but you’d need to initiate communication to access these services. HUD will not contact you first.

Ignore Requests for Personal Information

Freedom Mortgage will not ask you for your online account password. Anyone asking for this information is a scammer. Never share your account password with anyone. If you think your login information has been compromised, call Freedom Mortgage at 855-690-5900 immediately.

Freedom Mortgage will never ask you for your entire Social Security number via email or text—only the last four digits to verify your identity during a phone call.

Avoid Offers to Modify a Current Account

Freedom Mortgage will not contact you about payment plan adjustments if your account is current. If you receive an offer like this, it is probably a scam. If you’re uncertain, contact Freedom Mortgage at 855-690-5900.

Inspect Requests for Legitimacy

Be sure to carefully read any written correspondence claiming to be from Freedom Mortgage, including the fine print at the bottom or on the reverse side of the document. Some scammers will use Freedom Mortgage’s name and logo. If the fine print does not indicate that the correspondence came from Freedom Mortgage, it probably didn’t.

Fraud schemes often use poor spelling and grammar. Review digital communication for inconsistencies and examine the sender’s email address, including slight misspellings in the name or domain. Use the cursor to hover over links in emails before clicking them, and look for red flags. Some common URL red flags include typos or a link to a page that does not appear to match the request in the email. Never enter your personal information on an unfamiliar website or in suspicious text or email communications. Emails with attachments are not always malicious…but use extreme caution when you receive them unexpectedly.

When in doubt about any request you receive, contact Freedom Mortgage directly at 855-690-5900.

Be Cautious About Suspicious Communication

Do not contact any phone numbers or email addresses listed on any correspondence you feel may be suspicious. Instead, contact the phone number or email address listed on your legitimate billing statement. Scammers may even impersonate Freedom Mortgage employees. If you receive a phone call that you feel is suspicious, hang up and immediately call our Customer Care representatives at 855-690-5900.

Validate Any Credit Repair “Services”

Be wary of solicitations from services that offer to lower your payments or eliminate part of your mortgage debt for a fee while improving your credit. While there are many reputable credit counseling firms, you should always check the validity of any third-party service. You can call Freedom Mortgage’s customer service line at 855-690-5900.

Protect Yourself from Title Fraud

Title fraud can occur when someone uses forged documents to illegally transfer your home’s title without your knowledge to steal your money or property. Title scams are uncommon, but if you’ve experienced identity theft, you may be at a higher risk. Red flags to look out for include:

• No longer receiving property tax bills
• Mail addressed to someone else with your address
• Unexpected title communication (fraud alerts, etc.)
• Unauthorized activity on your credit report

Protect yourself by keeping all sensitive information and ownership records in a secure location. Consider using a credit monitoring service to help you detect unusual activity on your accounts, and consider asking your county’s property assessment or recorder of deeds if they offer fraud alerts for property titles. Title insurance can also help protect you against fraudulent claims.

These are just a few types of mortgage-related scams we’ve seen impacting our customers. Other scams can occur, so please be on the lookout, and be careful with your personal information. If you feel you may have been contacted by a scammer or fallen victim to a mortgage scam, the best thing you can do is log in to your online Freedom Mortgage account or contact our Customer Care team immediately at 855-690-5900. Our business hours are Monday–Friday 8 AM–8 PM ET and Saturday 9 AM–2 PM ET.