Homeowners are subject to a new phone scam involving a Canadian company that offers to refinance properties at low interest rates, Oregon state officials recently warned.
New Life Financial Credit Union of Canada is reportedly reaping homeowners’ money and valuable personal information, announced the Oregon Department of Consumer and Business Services. New Life is not a real credit union and has been the subject of inquiries from citizens in Oregon and other U.S. states.
The department claims its mission is to protect Oregon’s consumers and workers while supporting a positive climate for business in the state.
The scam involves callers identifying themselves as workers for New Life, who guide property owners to send $1,800 in “prepayments” and to fax copies of personal identification documents “to begin the loan process,” said department officials. But, other company names or “prepayment” amounts may be used in this scam as well.
Canadian-based telemarketing phone scams are nothing new as they have been on the rise for the past five years, said the Department of Justice in the announcement. Trends and news headlines are monitored and used to take advantage of consumers. Fraudulent calls from Canada that have been taking place involve sweepstakes, mortgage opportunities, high-stake lotteries, advance-fee loans, investment opportunities and prize promotions.
To avoid being duped, the Department advised consumers to insist telemarketers for a written offer, which can then be taken to a trusted adviser and be compared to other products in the market. Furthermore, consumers should not wire money or give it to runners sent by companies and should be cautious of non-U.S. sales phone calls.
