Home Buying Tips
Lessons From a First-Time Home Buyer: The Spam and Scams Don’t Stop
When we closed on our house, our mortgage broker and the title company warned us that we’d likely be getting a bevy of junk mail related to our new homeowner status. That’s because, at least in Missouri, the transaction is public record. In turn, various companies take the opportunity to target us — and some of these operations don’t appear as ethical as others.
Having survived that initial influx of spam and scams, I assumed that those days were behind us. Yet, when I checked my mail this week, I was greeted by a concerning “final notice” letter. Pretty quickly, I figured it was junk. And, after opening it, I was able to confirm so by looking for these important tells.
“Final Notice”
I’m not going to pretend like it’s impossible that I’d miss a piece of mail or that it could have gotten lost somewhere along the way. Yet, receiving a “final notice” when there were no previous communications seems fishy. Sure enough, this is done to get your attention (it worked on me… temporarily) and create a sense of urgency. Okay, technically, a first notice can also be a “final notice” — but you know what they’re up to with that phrasing.
The “Insert Here” Format
When we opened the letter, it was clear that some of the key info had been plopped into a more generic form letter. In this case, the name of our lender was in a different style and had special characters surrounding it. That immediately indicated to me that this letter wasn’t actually from said lender and, instead, came from a third party that just happened to know who the lender was.
The Wrong Information
Funny enough, the lender they cited has long ceased being our lender, as they sold our mortgage within months of our closing. Moreover, they are no longer our servicer as that also transitioned quite some time ago. I guess these spammers were working off of old info from when we bought the house and don’t have access to the latest. Good to know.
Coverage?
Even though the letter starts of talking about your mortgage and makes it sound as though there’s some urgent issue, it goes on to mention lapsing coverage. Wait, what coverage? Yes, we have a homeowners insurance policy — but we obviously know the name of that company and actively manage our account online. Perhaps this is for a home warranty, but we’ve never had one of those. Either way, once again, it seems that they want to get your attention before revealing what this is truly about.
The Fine Print
Finally, even though I had already figured out that this letter was bunk, the small print at the bottom of the letter spells out the fact that they have no affiliation with your lender or home servicer whatsoever. My best guess is that this is a home warranty company, but I honestly threw the letter away before diving deeper. If they are a home warranty provider, I can tell you that there’s no way in hell I’d do business with them if this is their technique for getting customers!
There are lots of scary things that come with being a homeowner. Thus, when you get an alerting piece of mail that seems related to your house, it can easily induce panic. However, before losing your head, be sure to take a closer look at the letter you received and think critically about whether or not it’s legit. If you’re still not sure, you can turn to the Internet to help you find more information on the company sending it. Alternatively, if you have professionals you worked with, such as a mortgage or insurance broker, it may be worth asking them any questions you may have.
Apparently, the spam and scams you’re presented with as a new homeowner don’t just stop after a single wave. Instead, two years later, here we are again. So, stay vigilant and don’t let these suspicious letters take your time or money!
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