New CFPB resources help new homebuyers avoid scams
Posted: Jun 6, 2019 | Author:
Closing on a new home can be a significant life event, especially for credit union first-time homeowners. But scammers are increasingly targeting homebuyers—just days before they close—through a sophisticated email phishing scam. It’s a mortgage closing scam, and it could cost your members their down payment and closing costs, which can often be their life savings.
The Consumer Financial Protection Bureau has developed new resources to help you educate members about mortgage closing scams:
- Mortgage Closing Scams: Protect yourself and your closing funds (Blog Post)
- Mortgage Closing Scams one-pager (PDF)
With a few easy steps, your members can protect themselves and close with confidence.
Learn more at consumerfinance.gov.
About the Bureau
The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations; by making rules more effective; by consistently enforcing federal consumer financial law; and by empowering consumers to take more control over their economic lives.
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