Quick Tip: How to avoid mortgage scam costing victims thousands

CHICAGO (WLS) -- Here's a quick tip is about a mortgage scam targeting homeowners across the country.

The Federal Communications Commission is warning consumers about scam calls that are costing victims hundreds of thousands of dollars.

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Here's how the mortgage scam works: Scammers pose as your lender, using fake caller ID to look legitimate. They often know personal details like your name, address or mortgage provider. They'll pressure you into making payments through unusual methods, like money orders or prepaid cards, claiming it's necessary to avoid foreclosure.

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Here's how to protect yourself: Never share personal or financial information over the phone. Hang up and call your lender using the number on their official website. Report any suspicious calls to the FCC at consumercomplaints.fcc.gov.

Remember, real lenders won't demand payments in unusual ways or threaten foreclosure without proper notice.