Several would-be homeowners have recently fallen victim to a variety of real-estate scams, including 2nd Mortgage scams and refinancing scams. Among these is the internet scam that effectively acts as a phishing scam.
This is the way it works: the target receives a spam email offering a 2nd mortgage or other exceptional, too-good-to-be-true deal. The email provides a link to a site where the target can apply for this amazing deal. The application form includes questions about all manner of personal information. Getting this information is the entire goal of the scammer. The scammers sell this information to a number of 3rd parties, from shady internet marketing firms to identity thieves. If the target ever hears back from the scammers, it’s usually to regretfully inform them that they do not qualify for the program.
If a deal is too good to be true, it probably is. Always be wary of providing detailed personal information on-line.
