Mortgage Scam Hits Virginia

A nationwide scam regarding mortgage settlements has made its way to Virginia, according to the Richmond Times-Dispatch. Attorney General Ken Cuccinelli  reports that citizens have been receiving emails and phone calls regarding a recent mortgage servicer settlement that has spanned across multiple states.

 

The $25 billion settlement was reached between state and federal officials and five large national banks, according to the Wall Street Journal.

 

The caller claims to be contacting recipients on a list of consumers who are eligible to receive financial compensation from the settlement, reports WAVY-TV. The caller asks for the bank account information of the consumer to complete a direct deposit transaction.

 

"I cannot stress this enough: Never give out your bank account information-or any personal information for that matter--to someone who calls you. Instead, call a known number for your financial institution, so you are sure you are reaching a legitimate contact," Cuccinelli stressed to Virginians in a statement.

 

The settlement only applies to those citizens who experienced an improper or fraudulent foreclosure between Jan. 1, 2008 and Dec. 31, 2011.  



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