Scam Alert: Home Warranty Letters
If you’ve received a Home Warranty “Final Notice” letter in the mail, you’re not alone. This growing scam tries to trick you into thinking your home warranty is about to expire and that you need to act fast. The letter may even include the name of your bank to make it seem legitimate or have the name of another bank. Scammers send out thousands of these letters knowing it’s likely that many people will have a mortgage with their local bank, panic, and call the number on the letter.
To start, a Home Warranty is not in any way tied to your mortgage and is not mandatory like home insurance when finance your home. Home Warranties are optional contracts that homeowners may purchase to cover certain unexpected home repairs to things like appliances and plumbing. There are several legitimate Home Warranty companies out there and if you are interested in purchasing a plan, you should do your research and compare costs and what is covered.
If you receive one of these letters, the best course of action is to just throw it away! If you are ever in any doubt about whether any piece of communication is really from Champlain National Bank, just call your local branch and not the phone number found on the letter, email, or text. Remember, we are here to help you avoid becoming a scammer’s next victim, so never hesitate to call us.
