Congratulations on your recent home loan closing! Whether this is your first mortgage transaction, or you have already been down this road several times, it’s a big deal. There are a few things that we get asked about right after closing that we feel are important to share.
First – you are probably wondering where and when to send in your first payment!
We always include a first payment letter and coupon in your final closing document package. You may have this saved as a PDF or have a printed copy on hand. You can use this to find your due date and payment instructions.
If you don’t have this, don’t worry! You can always reach out to your Loan Officer and they can provide you a copy.
Second, Highlands may sell or transfer your loan after closing. If this happens, you will receive a Servicing Transfer Notice in the mail that will include new customer service contact information and a new payment address.
If you are ever unsure of where to send your payment, you can also contact our corporate servicing team at 833-907-3531 or email them at [email protected].
Third, almost immediately after closing, you will start to notice more mail and emails than before.
Large purchases, like home loans and car loans, trigger companies to actively market their services to new customers. They know that home protection and maintenance services will be at the top of your mind. How do they get your information? After closing your loan, some of those property records become public information. This means companies can get your data from your deed a week or two after closing. This information includes:
- the mortgage lender
- the borrower (you)
- loan amount
- loan number
- property address
In an effort to keep all my clients informed and safe, I reach out to all my clients after we’ve closed to make sure you are aware of any potential scams. With the increase in home purchases in the last few years, mortgage scams are on the rise and many of them can be very convincing. The scammers could be reaching out to obtain credit card information or have you provide financial documentation claiming it was missed in the initial mortgage process.
If for any reason, we require further information or documentation from you, our team will reach out to you directly from the same phone numbers and emails that we used throughout your mortgage process.
One possible scamming scenario could be someone or a company notifying you that your payment was late and they need your credit card information to make the payment over the phone. Some will offer autopay for a small fee or a few hundred dollars to start the plan. If this happens, end the phone call immediately. Highlands Residential Mortgage will NEVER ask for your credit card or personal information to be given over the phone. Also, be wary of people calling or emailing, often from other countries, with a scheme to “pay your loan off.” Usually, if it sounds too good to be true, it is. If you suspect that any correspondence you receive is a scam, phishing attempt, or in any way fraudulent, reach out to us and we’ll be happy to verify if this request is from a legitimate source associated with your loan.
How to avoid common mortgage scams:
- Only discuss the details of your mortgage with legitimate representatives from our company, or professionals we have vetted and introduced to you ahead of time.
- Write down or save our contact information and add us to your email’s “Safe Senders” list. We will continue to contact you from the same email addresses and phone numbers.
- If you receive a suspicious email, mailer, or phone call, reach out to me or my team to confirm it is legitimate.
If you’re ever in doubt, don’t hesitate to reach out to us at any time. We are always here for you now and in the future! It was our pleasure to partner with you on this journey, we are grateful for your business and look forward to helping you in the future as well!