An old scam has raised it's ugly head once again ...
A simple letter that looks official notifies you that your loan has been sold or your servicing transferred and that your payments should now be made to XYZ company. Be darn careful that you don't fall into this trap, lose a few months payments and really hurt your credit in the interim.
When a Lender sells your loan or transfers your servicing, you should receive a letter from them telling you so and this is what these scammers are banking on; HOWEVER, you should also receive a letter from the new entity telling you the same thing and letting you know how to accomplish this and if there is any new loan/account number to refer to and any other pertinent information in this introductory letter ... AND IF YOU ONLY GET THE FIRST LETTER ... call your old company and verify the information with customer service ... BUT DO NOT USE A PHONE NUMBER THAT MAY BE IN THIS SUSPICIOUS LETTER ... Use the number on your payment coupon or in the loan documentation you have copies of or just Google it, i.e. Bank of America customer service.
Be careful and protect yourself from loss with a 2 mintue phone call.
To read the entire story in the LA Times article, click here: http://www.latimes.com/business/realestate/la-fi-lew-20110605,0,7596418.story
As always ... Keep the faith!!!
No comments:
Post a Comment