Coronavirus Scams

coronavirus-scams

Whenever there is an economic crisis that puts families at risk of losing their homes, scammers seem to multiply. The COVID-19 pandemic is no different.

Various federal and state government agencies have been warning consumers about the latest schemes. To protect you and your family, we’ve rounded up some of the most common ones to keep on your radar. For additional information on coronavirus scams, visit the New York State Attorney General’s Office’s coronavirus page.

Learn what to watch out for 

As we explain in our overview of homeowner scams, the following tell-tale signs can tip you off to a fraudster: 

  • They make promises or guarantees that they can stop your mortgage problems

  • They ask for upfront fees

  • They ask you to stop making regular mortgage payments

  • They ask you to sign paperwork you don’t understand

  • They become aggressive with their pitches

Fraud alert at Freddie Mac

Freddie Mac borrowers should be cautious of fraudulent calls promising lower interest rates. Scammers can imitate any phone number, so Freddie Mac is urging homeowners not to give out any personal information. Alternatively, you can let the call go to voicemail and call your lender directly. 

Hang up on robocalls

There’s been an uptick in scammers calling about coronavirus-related changes to student loans, work from home opportunities, and offers to consolidate debt. You can listen to some of those recordings at the FCC’s site here.  

Be careful buying online

With demand for face masks and paper products outpacing supply, fraudsters have stepped in to fill the gap. In a typical scenario, the FTC says, the scammer cuts off all contact after payment, sometimes closing down their site or seller page entirely. Besides a quick Google search, the best protection against this kind of fraud is to pay with a credit card. It will allow you to file a dispute with your card company if the item isn’t delivered. 

Watch out for imposters

Reports about fake coronavirus relief texts, emails, and calls are on the rise. Scammers will often pretend to work for the Social Security Administration, IRS, Census Bureau, USCIS and the FDIC. They might offer you cash grants or loans or fast relief payments, or send an alert that a check is ready for you to pick up. If it’s a phishing scam, the person you’re speaking to will try to get you to reveal usernames, passwords, and other personal information. 

Don’t delay payments without talking to your servicer

Fraudsters may tell you you can keep your payment if you pay them a small fee to handle all of the details. Call your servicer instead, and refer to our primer on coronavirus mortgage relief. 

We can help

Give us a call at 855-466-3456 to get connected to a nonprofit counselor or lawyer at no cost to you. We’re open Monday through Friday from 9:00 AM to 5:00 PM.