Personal Resource Center

Identifying and Preventing Mortgage Fraud

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Think You've Been A Victim Of Mortgage Fraud?

If you think you've been duped, what should you do next? You may consider staying quiet, but failing to report mortgage scams just allows the fraudsters to go on their way and target another innocent person.

Whether you've been the victim of real estate fraud or think you might have narrowly avoided it, you'll want to start with the Federal Trade Commission (FTC), which collects fraud reports2 in a database to share with law enforcement officials. Note that they won't be able to help you investigate or pursue the fraud. For that you'll need to call your local authorities, who may be willing to collect information to help track down the scammers and/or let you know if you have any recourse. You also can report it to the Better Business Bureau (BBB)3 and your state's consumer protection office.4

If money has been removed from your bank account or you wired funds through a company like Western Union, alert them to see if they are able to reverse the transfer. (Click here to find out what Synovus suggests in the case of fraud.)

And remember: No reputable financial institution — including Synovus — will ever call, email, or text you to ask for your personal information. While home buying can be a stressful situation, remember to keep your guard up to avoid falling for a mortgage scam.

Important disclosure information

This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.

  1. Federal Trade Commission, “Mortgage Assistance Relief Services Rule: A Compliance Guide for Business," accessed July 23, 2021. Back
  2. reportfraud.ftc.gov, accessed July 23, 2021. Back
  3. Better Business Bureau, “BBB Scam Tracker," accessed July 23, 2021. Back
  4. usa.gov, State Consumer Protection Offices, accessed July 23, 2021. Back