Homebuyers Lose $1.5 Million to Home Title Scam

WASHINGTON (AP) — A couple has lost $1.5 million in what’s becoming an increasingly common home title scam.

NBC Washington reported Wednesday that the scam involved the couple’s purchase of their dream home in Washington, D.C.

They first put down $200,000. Then they got an email from what they believed was their title company asking for the remaining $1.5 million. The couple wired the money.

The bogus email appears to have followed the apparent hacking of Federal Title and Escrow. The company said it’s working with the FBI is investigating. The company said no other customers appear to have been affected.

The couple still bought the home with what remained of an inheritance. They are suing the title company and others in hopes of getting their money back.


Information from: WRC-TV, http://nbcwashington.com

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