As the economic stimulus tax rebate checks pour forth from the US Treasury, it is important to be wary of where you spend the money. Indeed, the scammers are out in full force, looking for ways to co-opt your economic stimulus payment, or just use it as a way to get your personal information. (Disregard emails or mailings saying that you need to send specific information -- especially bank account numbers -- to speed up your tax rebate.)
Schemes abound as well. They may not be technically scams, but they are attempts to look "official" and get you to spend your economic stimulus payment in certain places. One of these was brought to my attention by Kelly the Taxgirl. She explains that an official looking envelope arrives, stamped with such messages as "Housing Stimulus Rebate Enclosed" and "Documented Mail." (Both of these are erroneous terms.) She then explains what's really in the envelope:
The letter advises me that the FHA has “authorized us to assist in substantially reducing your over-all monthly payments and interest rate on your mortgage.”
Mortgage?
That’s right - this so-called “Housing Stimulus Rebate” is really a solicitation for a refinance from Mike Hall (yep, plugging his name in so that you’ll know who is responsible) of The Money Store.
Let this be a warning to you: Do not send off your economic stimulus payment in response to unsolicited offers. Carefully consider your options, and then look for the best way to spend your economic stimulus payment.
Hint: That option probably won't arrive in the mail.
image credit: US government
Comment Preview