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The scam: When you’re ready to close on your new home, an email arrives, citing all the correct details about the title and instructing you to wire the cash to an account at a distant bank. The account probably belongs to criminals who have hacked the title information, and if you fall for their scam, you’ll be out your money and your home.
How to Avoid It: Never release payments until you’ve read all the fine print and followed the instructions in the escrow packet provided by your title company. Be sure to call the number on your printed packet (and your agent and lawyer) if you receive any emails about changes.
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