Have you ever received a letter or postcard that says something like: “You have recently closed on your mortgage with Grow Financial. We need you to call us about an important matter regarding this loan. This is time sensitive”? This is an example of a mortgage scam and has nothing to do with Grow. Even worse, it could be an attempt to steal your personal information or money. Here’s what you need to know.

Example of a Mortgage Scam Postcard

Let’s take a closer look at an example scam postcard. The wording on the postcard sounds important, such as “Important Notice: Immediate Response Needed” written in bold at the top. The message continues with: “You have recently closed on your mortgage with Grow Financial. We need you to call us about an important matter regarding this loan. This is time-sensitive, so please call us at 888-XXX-XXXX.”

The postcard might also include a fake mortgage ID number and, in small print at the bottom, a disclaimer, such as “All information provided by XYZ Company. Not affiliated with, sponsored by, and loan information not provided by Grow Financial.”

How Mortgage Scams Work

These scams often follow a similar pattern to trick you:

1. Creating a sense of urgency: Notice phrases like “immediate response needed” and “time sensitive.” These scammers want to pressure you into taking quick action.
2. Listing a mortgage ID number: Scammers might include what looks like an official mortgage ID number to gain your trust. The truth is anyone can access public mortgage records once a mortgage is recorded in the county, or the number they use could be entirely fabricated.
3. Vague and misleading messaging: The communication won’t explain who’s sending the letter or what the so-called “important matter” is about. This vagueness is intentional to make you curious enough to call.

How to Spot the Scam

There are a few red flags that can help you recognize a scam:

1. We don’t print loan details on the outside of mail. Grow never includes your personal loan information on the outside of a postcard or envelope.
2. The phone number isn’t ours. The number listed will not match Grow’s official number. Our Member Contact Center is available at 800.839.6328. Find all our official contact information here. When in doubt about the veracity of a communication, double-check our website and reach out to us directly at our official number.
3. The fine print may reveal the truth. Look closely, and you’ll often find a disclaimer stating the sender is not affiliated with Grow. These communications are sent by third-party companies trying to mislead you.

Stay vigilant, and if you ever have doubts about a letter or postcard you’ve received, contact Grow directly to verify the communication before taking any action. Learn more about avoiding scams.

---

Posted In:

• Security Education