Robo Calls Aim Homeowners. Do you receive multiple Robo calls per day (or per hour)? It’s aggravating, very annoying, and inconvenient. Every time you answer your phone, it’s either vehicle warranties, health care, Social Security, life insurance, financial assistance, and home warranties trying to scam you. There are so many calling every day that you really need to stay on your toes.
According to the telecommunications technology provider First Orion’s 2022 Mid-Year Phone Scam Report, house-related phone scams increased 300% in May — 300%!! Most of these scam calls are to get you to purchase bogus home warranties and home remodeling projects. Home warranty scams are rapidly targeting senior homeowners. First Orion estimates that U.S. mobile subscribers received more than 100 billion scam phone calls during the first six months of 2022. That resulted in financial losses of up to $40 billion.
Why all the house-related scams now?
Robo Calls Aim Homeowners. because it works. It’s a big business; they can change their phone numbers, tactics, and ploys to fit any season and current event (like fires). With the hot real estate market we had last year and the increase in interest rates, scammers are now using those events to call home warranties, remodeling projects, and loan options.
Industry Impact
The top 5 most spoofed entities, according to First Orion data:
1. Insurance (Life, Health, Auto)
2. Government (Social Security, IRS, etc.)
3. Warranty (Vehicle and Home)
4. Healthcare (Healthcare and Pharmacy)
5. Financial Services (Bank, Credit Union, Financial Advisor)
Our survey responses found that 2 in 5 people have received financial-related scam calls, ranking it as the most reported scam.
Here are some examples of more recent phone call scams from REALTOR Magazine:
- “Hi, this is Suzie. I’m a homeowners associate calling on a recorded line in regards to safety concerns within your home. How are you doing today? I’m with Consumer Council regarding home improvement. My callback number is…”
- “Hi, this is Laura. I’m a homeowners associate calling on a recorded line in regards to making improvements within your home. How are you doing today? I’m with remodeling loans. My callback number is…”
- “Hi, this is Stephanie. I’m a homeowners associate calling on a recorded line in regards to safety concerns within your home. How are you doing today? I’m with customer care regarding home improvement. My callback number is…”
Some buzzwords like “remodeling” and “safety concerns” are interesting. The scams are targeting more of the homeowner population as opposed to the mix of homeowners and renters, like in May. (REALTOR Magazine)
How can you avoid these scammers?
- Don’t answer unknown numbers. If it’s important, they will leave you a message. After they call and don’t leave a message, go into your phone (smartphone) to block it and then delete the call.
- DO NOT – DO NOT – DO NOT give out any personal information like your Social Security number, birth date, bank information, or anything personal over the phone. Also, beware if the caller wants any payment with a gift card or wire transfer – legit companies DO NOT DO THIS.
- Do not press 1 (or any number) to be put on their “do not call list.” This will place you on their active call list. Just hang up. AND NEVER EVER say “yes” during any part of the call. The call may be recorded, and you may be saying “yes” to an array of awful and expensive things. Yes, they are that crafty and scary.
- Lastly, consider getting a call tagging or call blocking service or consider registering with the federal Do Not Call registry.
To read more about Phone Scams and who are really their targets, visit First Orion.