Homebuyers getting ready to close on a home should know about a dangerous fraud that could cost them tens of thousands of dollars and stop their home purchase cold. Settlement fraud is being reported more frequently and attracting the attention of the Federal Trade Commission, law enforcement, and Freddie Mac's Financial Fraud Investigation Unit.
Check out the short video below. It explains how scammers use e-mail to trick homebuyers into wiring their settlement money to phony bank accounts and tells you how to spot and avoid settlement fraud. For more smart tips on buying, owning or renting a home visit www.myhome.freddiemac.com
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