Fannie, Freddie Imposter The Subject Of BBB Warning

From The Better Business Bureau of Southern Arizona:

• The Better Business Bureau (BBB) of Southern Arizona is warning consumers to be cautious of an organization posing as Fannie Mae and Freddie Mac mortgage lending companies. The scammers are sending letters nationwide announcing a lottery that gives people who lost a home a bogus chance to buy another. According to the letter, the F & F Equity Draw has $50 million to give away, and recipients “have emerged a winner…of $5 million.”

• When a BBB representative contacted the phony Fannie Mae and Freddie Mac, he was told to use Western Union to wire $850 to a Las Vegas location. Individuals who fall for this scam will lose the money they send in, and will receive nothing in return.

For the rest of the news release, see BBB Warns of Latest Mortgage Lottery Scam.