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Real estate refinance scam? How to tell...

Do Not Sell My Personal Information

Kouki

Kouki, Not Cookie.
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I will start this off by saying I don't know anything about this stuff. I buy house, I sign documents, I send money every month, end of transaction.

Got a call for refinance, I was like OK please call me back later I'm busy. I wouldn't mind refinancing because I need to take my future-ex-wife's name off the title and could use some equity cash or whatever it is called, and I wouldn't mind reducing monthly payment because of the separation and me now having to pay more bills.

Refinanced through Lower last year and that is who is calling me. The second time the call came through as a "Spam Risk"

So we go over the details, offer is reduced rate to 2.99, I got a notification they pulled a credit report through Discover and Mint. He said he needed some documents, OK. Then he texted me the list of documents he needs. ID, mortgage statements, insurance, W2, paystubs, bank statements. He didn't say how to deliver these documents. So I feel like something is a little fishy potentially. Hasn't asked for any fees in advance or to re-route mortgage payments or anything.

What can I do to make sure this is legit and not a scam? Am I just over-thinking this?
 
I will start this off by saying I don't know anything about this stuff. I buy house, I sign documents, I send money every month, end of transaction.

Got a call for refinance, I was like OK please call me back later I'm busy. I wouldn't mind refinancing because I need to take my future-ex-wife's name off the title and could use some equity cash or whatever it is called, and I wouldn't mind reducing monthly payment because of the separation and me now having to pay more bills.

Refinanced through Lower last year and that is who is calling me. The second time the call came through as a "Spam Risk"

So we go over the details, offer is reduced rate to 2.99, I got a notification they pulled a credit report through Discover and Mint. He said he needed some documents, OK. Then he texted me the list of documents he needs. ID, mortgage statements, insurance, W2, paystubs, bank statements. He didn't say how to deliver these documents. So I feel like something is a little fishy potentially. Hasn't asked for any fees in advance or to re-route mortgage payments or anything.

What can I do to make sure this is legit and not a scam? Am I just over-thinking this?
@Lee ?

Everything should be done over official channels. You shouldn't be sending personal docs to someone via text or to anything personal.
 
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I will start this off by saying I don't know anything about this stuff. I buy house, I sign documents, I send money every month, end of transaction.

Got a call for refinance, I was like OK please call me back later I'm busy. I wouldn't mind refinancing because I need to take my future-ex-wife's name off the title and could use some equity cash or whatever it is called, and I wouldn't mind reducing monthly payment because of the separation and me now having to pay more bills.

Refinanced through Lower last year and that is who is calling me. The second time the call came through as a "Spam Risk"

So we go over the details, offer is reduced rate to 2.99, I got a notification they pulled a credit report through Discover and Mint. He said he needed some documents, OK. Then he texted me the list of documents he needs. ID, mortgage statements, insurance, W2, paystubs, bank statements. He didn't say how to deliver these documents. So I feel like something is a little fishy potentially. Hasn't asked for any fees in advance or to re-route mortgage payments or anything.

What can I do to make sure this is legit and not a scam? Am I just over-thinking this?

Fraud investigator here.

Do NOT text those documents or send them in an unsecured email to an address you can’t verify.

Call the mortgage company at a number you can find on their site, NOT one he provides you. Have them verify the validity of the person you are speaking with, your quote, the documentation that is being requested, and ask them their document submission options.

Feel free to pm me too if you need.
 
Thanks. I will call tomorrow AM and have an update.

He was able to see my payment history and that I missed a payment earlier this year...I think it is legit...but some sort of scam is just about the last thing I need in my life rn
 
Thanks. I will call tomorrow AM and have an update.

He was able to see my payment history and that I missed a payment earlier this year...I think it is legit...but some sort of scam is just about the last thing I need in my life rn
Btw, if you're ever in a situation where they initiated it and you're not 100% comfortable, just end it and then you initiate it. You might not know if they're spoofing a number, so you just hang up then call the bank back at their official number.
 
Not really an update but they did send me an official email this morning.

Have been too busy with juggling work meetings, AC service call (1900 to repair or 4700 to replace!) and my dogs getting f'in sprayed by a skunk so my house smells of vinegar
 
I will start this off by saying I don't know anything about this stuff. I buy house, I sign documents, I send money every month, end of transaction.

Got a call for refinance, I was like OK please call me back later I'm busy. I wouldn't mind refinancing because I need to take my future-ex-wife's name off the title and could use some equity cash or whatever it is called, and I wouldn't mind reducing monthly payment because of the separation and me now having to pay more bills.

Refinanced through Lower last year and that is who is calling me. The second time the call came through as a "Spam Risk"

So we go over the details, offer is reduced rate to 2.99, I got a notification they pulled a credit report through Discover and Mint. He said he needed some documents, OK. Then he texted me the list of documents he needs. ID, mortgage statements, insurance, W2, paystubs, bank statements. He didn't say how to deliver these documents. So I feel like something is a little fishy potentially. Hasn't asked for any fees in advance or to re-route mortgage payments or anything.

What can I do to make sure this is legit and not a scam? Am I just over-thinking this?

You are over thinking this. Might have an appraisal waiver...what state do you live in. I have done over 4,000 refinances in my career.
 
OH. Last year I was able to get an appraisal waiver, I would assume I will be able to this time as well. Would appraise at minimum 50k over remaining loan, could sell for 100k over loan
 
Not really an update but they did send me an official email this morning.

Have been too busy with juggling work meetings, AC service call (1900 to repair or 4700 to replace!) and my dogs getting f'in sprayed by a skunk so my house smells of vinegar

I would still call, it's sometimes possible to spoof the from email address. Also weird they would need mortgage statements if this is the same company you have your mortgage with.
 
I would still call, it's sometimes possible to spoof the from email address. Also weird they would need mortgage statements if this is the same company you have your mortgage with.
Nah, that's normal. The person's workflow is to ask for it. It's probably more of a hassle for them to get it from a different department than it is to get it from the customer directly.
 
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OH. Last year I was able to get an appraisal waiver, I would assume I will be able to this time as well. Would appraise at minimum 50k over remaining loan, could sell for 100k over loan

That doesnt help anything, numbers are based on loan to value ratio, not how much over...if you have a million dollar propety, you barely have any equity, but if you have a 200k property you have good equity.
 
I would still call, it's sometimes possible to spoof the from email address. Also weird they would need mortgage statements if this is the same company you have your mortgage with.

Stop over thinking...they need the mortgage statement, they dont always have access to it. You think a major company allows all employs to access everything easily? They dont, mortgage statement is for the underwriter to determine if there is a net tangible benefit. its easier to get from you than the hoops to get from that department most likely in a different state and building and doesnt know who the fuck your loan officer is.

Also using your current company has zero benefit, it isnt easier, you havent shopped it properly then. Every loan has to start 100% over, so your current lender cant take short cuts over other lenders, i know frustrating, but nature of the business.
 
Nah, that's normal. The person's workflow is to ask for it. It's probably more of a hassle for them to get it from a different department than it is to get it from the customer directly.

Exactly, companies have a ton of protections in place to protect your info, even internally, LO's dont have G-d access to your stuff, some companies make it easier, some dont.
 

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