Urgent Notice for Mortgage Disability Insurance a Scam

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This Urgent 90 Day Notice to purchase Mortgage Life and Disability coverage with no physical exam is a deceptive ploy similar to a deed processing scam we received awhile back. It came to us in the United States Mail from the Mortgage Protection Center in Burlington, NC.

What is scary is that all of the information is public and available to junk mailers like this so called Mortgage Protection Center. They knew what bank we financed our new home from, our hard earned interest rate, how much we financed, and the date that the mortgage was finalized through our lender Pioneer Bank!

The protection they promise is paying your monthly mortgage payments upon death, disability, unemployment, and even promise repaying all the premiums you pay in if you never have used the policy after your 30 year mortgage is payed off.

If you get this 90 Day Urgent Notice, please ignore as it was not approved or authorized by your bank. It is just a bunch of junk mailers exploiting the fact that all of your home purchase information is public. They even try to scare you into purchasing Mortgage protection by declaring you will have to undergo a medical exam to qualify if you do not purchase policy within the 90 days!

Finally, according to some BBB files, this particular company has an unsatisfactory record with the BBB due to unanswered complaints. The company has resolved a few of the complaints presented by the BBB, however, the BBB did not receive a response to many other complaints. The complaints were primarily related to both advertising and selling problems.

 

Mortgage Disability Insurance Notice a Scam
Mortgage Disability Insurance Notice a Scam
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8 comments on “Urgent Notice for Mortgage Disability Insurance a ScamAdd yours →

  1. David E. Weliver does great job writing about the dos and donts of home mortgages. He has an even better piece on the right time to get married from financial, emotional, and maturity perspectives. David will be the first to say that sharing his posts are good for your karma.

  2. We got a similar rip off, scam thing in snail mail and it knew what our home mortgage loan amount was from Pioneer Bank in Roswell,NM. That is scary. Checked with Karen Powers, who was the loan officer or originator,and she said to ignore and report it if we thought it necessary.

    1. I doubt any lending agent would advise you to report who ever sent mortgage life and disability coverage. As you stated, the amount you mortgage, interest rate, closing date, etc are all public information! Some of the stuff you get in the mail regarding protecting your home is not always a SCAM dude…..ya need to chill!!!

    2. Wow a number of extremely undervalued properties on park avenue, summit, wildly, bland, Poe street and 600 Estrellita Dr. Possibilities for some profitable flipping.

    3. Kathleen Garcia is passionate about big dreams. She saw how her grandmother made a ton of money as a real estate agent making 6% helping sell million dollar ranches. Yup, that is $60,000 for wearing high heels, telling your clients they are such a cute couple, and deflecting questions about PMI insurance.

      She has worked for two home mortgage places in Roswell NM, prime source and Pioneer Bank. She open her own mortgage company New Penn Financial and then worked for Kurt Gass at Michigan Mutual.

      Then Garcia worked at chamber of commerce before realizing there is no money in that. Now she is back in mortgage business conning people to sign promissory note where their monthly mortgage payment involves paying twice as much interest as principal.

      Now that is being passionate about big dreams. You definitely followed in your grandmother’s footsteps girlfriend.

      1. Tread carefully with the Frost Mortgage Banking Group home mortgage promotion for first responders to car accidents, fires and other emergencies. They call it Zero for Heroes program and will waive closing costs which means nothing if you get hit with 4.5% interest rate! Notice they did not mention anything about lending rate.

        Greg Frost Jr intentionally said nothing about mortgage rates on the Albuquerque KOB TV commercial. He is hoping desperate first time homeowners will give anything to get a house. The TV Ad lists Veterans, active duty, fire dept, doctors, police, paramedics, and nurses as first responders, by I imagine you qualify as a first responder for getting a cat out of a tree or helping a kid cross the road.

        Not sure why they filmed commercial in front of police department.

  3. I had to laugh when I got this in the mail. First, I don’t have a mortgage. My home has been paid off for 7 years. Secondly, they had me as a “recent new homeowner.” And as a “New Homeowner” I could lock in special rates without an exam. Umm..I purchased this home 26 years ago.
    Finally, they listed my loan amount as $894,000. In this neighborhood? 26 years ago I paid 32k for my sweet , 3bed, 1 bath bungalow.

    My initial reaction was loud laughter that sent my dogs scattering. My second was wondering who bought that beautiful home with my identity? I double checked the address they were soliciting from and sure enough it was mine. Hmmm… Me suspects a fraud a happenin’. I was tempted to respond and have a comical afternoon ruseing them back and may still do it when I next am feeling a bit onery.

    1. Shout out to all you hard working homeowners in Dover Delaware. Intelligent vigilance which amounts to ignoring 99% of all snail mail is required.

      I have heard there is quite a bit of fraud and deception with the selling of building contents insurance policies. Is that something you have heard of or know about?

      Congratulations to you on owning your home for last 7 years. Most of us slaving away paying off our mortgage. Good for you!!

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