Protecting Your Home From Scams & Online Fraud
- Shannon Faulkner
- Jul 1
- 3 min read
Updated: 5 days ago
As a homeowner, especially if you are in your golden years, protecting your home and finances is more important than ever. Unfortunately, older adults are often prime targets for financial scams and online fraud due to their accumulated wealth, stable homeownership, and sometimes less familiarity with fast-evolving technology. Scammers use sophisticated tricks designed to deceive and exploit, but with the right knowledge and vigilance, you can safeguard your home and your hard-earned money.
Common Financial Scams Targeting Older Homeowners
Mortgage and Reverse Mortgage Scams
Fraudsters may offer “too good to be true” refinancing or reverse mortgage deals, pressuring homeowners into costly or fraudulent loans. They may ask for upfront fees or personal financial information.
Home Repair and Improvement Scams
Scammers show up at your door offering urgent or discounted home repairs, then overcharge, do shoddy work, or disappear without completing the job.
Investment and Lottery Scams
Promises of guaranteed returns or lottery winnings entice homeowners to send money or share banking info, only to lose it all.
Phishing and Email Scams
Emails or texts pretending to be from banks, government agencies, or utility companies try to trick you into clicking links or giving away passwords and financial details.
Utility or Tax Scams
Scammers call pretending to be from utility companies or tax authorities, threatening disconnection or legal action unless immediate payment is made.
Scam Prevention Checklist
Verify Before You Act
Always independently verify company information or a person’s identity before making decisions or payments.
Use Trusted Professionals
Hire licensed contractors and consult trusted financial advisors before signing documents or agreeing to services.
Secure Your Personal Information
Shred documents with sensitive information and use strong, unique passwords for online accounts.
Stay Informed
Regularly check news and alerts from consumer protection agencies, senior advocacy groups, and your local police department.
Talk About It
Discuss any suspicious contact or unusual offers with trusted family members, friends, or advisors.
Have you or someone you know been a victim of fraud?
Contact your local police and file a complaint with the Federal Trade Commission (FTC) at reportfraud.ftc.gov.
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