I just learned about a new scam from a Realtor friend in Radcliffe, Kentucky and I feel compelled to spread the word. A recent past client of hers received a notice saying that their mortgage had been sold to XYZ company and that they would need to start making their monthly mortgage payment to XYZ company at a new address. The new home owners complied and two months later received notice from their original loan holder that they were two months behind on their mortgage payments! The authorities are investigating but the homeowners are out those two months payments and now have a blemish on their credit history. XYZ Company doesn't exist and they'd been scammed!
Apparently, these con artists are using notices of newly recorded liens and targeting new home buyers. My advice is, if you have purchased your home in the past two years and receive a letter saying that your loan has been sold, please take the time to verify its authenticity. It is common that new loans are sold but please be certain that it is legitimate!
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