Home loan wire scams occur when criminals impersonate trusted parties such as your lender, real estate agent, or title company, to trick you into wiring money to a fraudulent account.
These scams often involve fake emails, phone calls, or text messages that appear legitimate and create a sense of urgency. You may be told that payment instructions have changed or that immediate action is needed to keep your home purchase on track.
Before sending any wire transfer, always verify payment instructions by contacting your lender or title company using a trusted phone number—not the contact information provided in a suspicious message. Be cautious of unexpected changes to wiring instructions, unfamiliar email addresses, or requests to act quickly.
Because wire transfers are difficult to recover once sent, taking a few extra minutes to confirm the details can help protect your money and your home purchase. If you believe you've been targeted, notify your financial institution immediately and report the incident to the appropriate authorities.
Remember: When it comes to wiring funds for a home purchase, always verify before you send. When in doubt contact your lender, real estate agent or title company directly before transferring any money!