September 19, 2021

MP Now News

Mortgage News

New scams are targeting VA home loans

TEMPLE, Texas (KWTX) – The Department of Veterans Affairs is warning veterans of a new scam targeting money on VA-guaranteed home loans.

The scammers claim to be with the VA or a mortgage lender to convince veterans to refinance their homes, agree to a loan change, or even send their mortgage payments to a new address. They also use fear tactics to convince veterans that their homes are about to be foreclosed or that they owe late fees.

“One of the biggest things these days is that scammers can find a new way to disguise themselves as an authentic source because everyone has a smart ID,” said Abhijit Nag, director of computer information systems at Texas A&M Central Texas.

“When they are older veterans, they may not give them as much time or resources to research and review, which makes them very susceptible to these scams.”

To stay safe, Nag encourages you not to answer the phone if you don’t know the number.

“When they get a phone call or an email, they shouldn’t just click or reply and fill in all of the information,” he said.

“One thing any veteran can do is check where the number is calling from. Sometimes it is best to call the VA to check that all the information is correct. “

Especially if you or a veteran could be a victim of the fraud, Nag urges you to contact the relevant authorities.

“If you get such phone numbers and emails, always report it to any law enforcement agency just so they can help minimize all of this in the future,” he said.

Authorities are pressing to report fraud to the state Attorney General, or the Federal Trade Commission.

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