Federal agencies are warning about a scam that targets prospective borrowers who are about to close on their home loans. It’s similar to a scheme being used on job seekers.

Reports have emerged that homebuyers who are nearing the closing date on their mortgages are being targeted by scammers seeking to steal funds from unsuspecting consumers.

An fraudulent email that appears to be from the homebuyer’s real estate agent or settlement agent falsely claims that there is a last-minute change in the closing process.

Source: Mortgage Daily