Is that home mortgage internet rate too good to be true? It probably is.

Throughout the pandemic mortgage rates have been low, which has increased the demand for housing. But as KRPS’s Fred Fletcher-Fierro tells us scammers have been using the pandemic to their advantage.

Photo by Pixabay on Pexels.com

It’s a seller’s market. Earlier this year, the online housing website Zillow said that the average house in the US was selling in as little as six days. Scammers are using the pandemic, along with more of us using online banking to solicit loans to prospective buyers so that they can get your personal information.

Stephanie Garland of the Better Business Bureau in Springfield, Missouri says the non-profit is getting reports about this nationwide. “The Better Business Bureau is hearing multiple reports from people both here locally and from across the state or the nation that scammers are actually pretending to be legitimate loan providers. And they are trying to give people, supposedly, a quick loan with no upfront fees”. The BBB suggests that consumers avoid solicited loan offers and research loan providers to make sure they’re who they say they are. Also, consider working with a well-known local financial institution where you can meet somebody in person. For 89 9 KRPS, I’m Fred Fletcher-Fierro

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