Scammers are getting smarter and smarter each day. Here at Waypoint Bank, we want to keep you vigilant and aware of current trends in scams. The more you know, the more you can protect yourself and your money. When it comes to scamming adults and parents, scammers are most commonly doing the following:
Mortgage Foreclosure Rescue Scams
Do you have a mortgage? Scammers are posing as lenders or loan services, and promising to refinance your mortgage, repair your credit, or even stop a foreclosure. However, they’ll request payment for “processing fees” or trick victims into signing documents that transfer the property to these predatory companies. Here’s a tip: Be wary of companies that pressure you into deciding quickly or that say they can guarantee stopping a foreclosure. If it feels too good to be true, it probably is.
Debt Collection Scams
Some scammers impersonate law enforcement or debt collectors to demand payment for debts that aren’t real. They might use threats of jail time or violence to get you to send payment information, yet they refuse to provide any written proof of the debt. Here’s a tip: Never share financial information with anyone claiming to collect a debt unless you have contacted them yourself first.
Lending Scams
Lending scams happen when a victim thinks they’re applying for a loan through an online lender or lender app. Scammers will ask for bank information to send a direct deposit. Often these lenders seek you out and don’t require a credit check, but they do require an upfront payment for things like “insurance”, “paperwork” or “processing fees.” Here’s a tip: Be cautious of any lenders who claim to guarantee a loan approval. Reputable lenders will have a set of requirements they abide by. Check out our loan page and get in contact with one of our friendly and reputable lenders today!
Waypoint Bank is passionate about empowering customers to make the best decisions with their money. We understand that some of you have fallen prey to a scam in the past, and some have not. Becoming aware of the latest in scams can help you to avoid getting scammed in the future. If you have any questions or think you are getting scammed, give your nearest branch a call!
