"When the mortgage request was submitted, the technology flagged the issue and forced the lender to seek confirmation from the legal owner. EquityProtect then contacted the daughter, halting the scam process. I was shocked when I heard from EquityProtect that my father was attempting to take out a mortgage on his home, as he has no need, the victim's daughter said."
"We have been dealing with the influence this scammer has over my father for years, and I cannot imagine how horrific it would have been if they had succeeded. I was so thankful we had EquityProtect's technology in place to stop this before it happened. The homeowner's identity is being withheld due to the ongoing investigation, EquityProtect added. Financial crimes targeting older adults have risen in recent years."
When a mortgage request was submitted, EquityProtect's technology flagged the issue and forced the lender to seek confirmation from the legal owner. EquityProtect contacted the homeowner's daughter, halting the scam process. The daughter reported shock that her father was attempting to take out a mortgage despite having no need and described long-term influence by the scammer over her father. The daughter said she was thankful the technology stopped the attempt before it succeeded. The homeowner's identity is being withheld due to an ongoing investigation. The FBI's Boston Division reported $4.88 billion in losses from 147,127 complaints in 2024, a 46% increase in complaints and a 43% increase in financial losses compared with the previous year.
Read at www.housingwire.com
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