Are you looking to refinance your home?

Are you looking for a loan in order to buy? Don’t be fooled by scammers offering this service. But how can you tell which offer is real? What kind of red flags should you be looking for? I reached out to Acadia Lending Group, a Maine based company that finances loans in Maine and New Hampshire, for some clarification on some of these issues, and this is what they had to say:

Acadia Lending Group only reaches out to past clients if there is an opportunity that would make sense for them to refinance their home. We do not cold call anyone or reach out to strangers.

So what can we take away from this? Well, if you’re looking into refinancing your home and you receive a phone call, ask what company they’re associated with. Is it one that you know by name? Is there a representative that you’ve worked with in the past? What kind of offer are they making? Is it below what the current market is dictating? Getting answers to some of these questions can help you ensure that you aren’t getting scammed, and that you’re talking to someone from the lender you’ve worked with previously.

Another tactic of the scammers is to play up the sense of urgency that you feel when making this kind of decision. Rates can and do change frequently, and it can be enticing and easy to get swept up in the moment. But don’t be fooled! If the offer really is as good as it seems, hang up, and do some quick research of your own before calling back, and check in with a trusted representative and never, ever make payments over the phone while talking with someone whose identity you aren’t sure of.

Stay safe out there!