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Washoe County Residents Targeted by Aggressive Home Loan Scam
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RENO, NV – August 11, 2024 – The washoe County sheriff’s Office (WCSO) is urgently warning residents about a surge in sophisticated home loan scams targeting homeowners.Scammers are posing as representatives from mortgage lenders and government agencies, employing high-pressure tactics to extract personal and financial information.
The WCSO issued the alert following multiple reports of fraudulent calls over the weekend. These calls frequently enough falsely claim the homeowner is facing imminent foreclosure and demand immediate action.
Example of Scam Call transcript
A recent intercepted call provides a chilling example of the scammer’s methods. The caller, identifying himself as “Alan Parrish” from “Guild Mortgage,” contacted a Washoe County resident, Christina, at her home on Red Baron Boulevard in Reno (zip code 89506). The transcript reveals:
“Hey Christina.
This is Alan Parrish calling you from the Guild Mortgage regarding your property that you have with us. Eight BLEEP Red Baron Boulevard, Reno, Nevada. And the zip code is 89506.
This property, it’s in foreclosure, and you’re on the edge of losing your property. So if you are willing to explore all the potential options to avoid foreclosure on your property that you have with us, kindly give me a call on (707) 359-1708.
Let me repeat back (707) 359-1708.
And if you fail to call me back, then you might be losing your property.”
Understanding home Loan Scams: A Growing Threat
While foreclosure rescue scams are not new, experts at the Consumer Financial Protection Bureau (CFPB) report a 40% increase in reported incidents nationwide in the first quarter of 2024 compared to the same period last year. Nevada, with its fluctuating housing market and recent economic challenges, is considered a high-risk area for these types of schemes. The CFPB notes that scammers often target vulnerable homeowners,including seniors and those facing financial hardship.
Protect Yourself: Key Warning Signs & Prevention Tips
The Washoe County Sheriff’s Office and the CFPB offer the following crucial advice to protect yourself from home loan scams:
- Never Share Information Proactively: Do not provide personal or financial details over the phone unless *you* initiated the call to a trusted source.
- Verify the Caller: Hang up promptly and contact your mortgage provider directly. Use the phone number listed on your mortgage statement or the company’s official website – do not rely on caller ID. Guild Mortgage’s official customer service number is (800) 343-8998.
- Beware of Pressure Tactics: Scammers create a sense of urgency and use threats, intimidation, or demands for immediate payment. Legitimate lenders will not operate this way.
- Caller ID is Not Reliable: Scammers can “spoof” phone numbers, making it appear as if they are calling from a legitimate organization.
- Avoid Untraceable payments: Your mortgage company will *never* ask you to pay via wire transfer, gift cards, or cryptocurrency. these methods are untraceable and favored by fraudsters.
“If something feels off, it probably is,” emphasizes Sergeant David Smith of the WCSO Fraud Unit. “Trust your instincts and don’t hesitate to hang up and verify the information independently.”
Reporting Fraud & Seeking Assistance
If you believe you have been targeted by a home loan scam, report it immediatly to:
