So we’ve heard about identity theft and its apparent ugliness. But do we actually have to believe on it? Isn’t this just a bunch of media hype? Certainly not.Last year alone, 10 million Americans were victims of an identity theft crime costing around $57 billion in total damage. The Web site called identitytheftlabs.com estimates that the average victim of theft crime can expect to see over $6,300 illegally charged in their name. The average expenditure to the individual ranges from $400 to $2,000. However, these values do not capture the stress, time, and bureaucracy involved with recovering your identity.Accordingly, what’s really scary about this crime of the decade is that you are at a much great risk when a thief gets a hold of your social security number, or bank account numbers, or starts combining information on you from multiple sources. The SSN alone is considered by thieves to be the master key to the kingdom owned by you.While it’s a fact that there is no fool-proof mechanism to avoid identity theft, everyone still has options. The same Web site identitytheftlabs.com outlines two workable options:1. Secure yourself from the danger and search for identity insurance […]
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Tags: bank account numbers, social security number, fool proof, media hype, key to the kingdom
Refinancing your existing home loan is possible even if you don’t have pristine credit. While you may have to pay a premium for the privilege, it is possible. Here are some steps you can take before you get the ball rolling that can help guarantee that the experience is memorable - and affordable.The first step you need to take even before you start shopping for the perfect loan is to get a copy of your credit report of go over it with a fine-toothed comb to ensure that your prospective lender gets an accurate picture of your current finances.If you haven’t seen your credit report in the last year you’re entitled to a free copy of the reports as provided by the three major credit bureaus - Transunion, Equifax, and Experian. On the other hand, if you’ve seen your report within the past year it will cost you a nominal fee, unless you’ve been turned down for credit within the last 30 days.When you get the reports, lay them out on a table or other flat surface and go over them carefully. If you see inaccuracies, make a notation on the report as to whether the […]
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The hard way always seems to be the better way. I have been told there are two ways to do things in life, “The hard way and the easy way.” I think most want to do things the hard way. When it comes to buying a house for the first time, there is process to follow so your buying experience is not done the hard way. The easy way may not seem the best way in the eyes of a buyer, but I assure you it’s the correct process. I have seen more problems with mortgage loans following apart because someone led the cart before the horse. Here is the easy way to buy a home.Get approved firstThe first step in the home buying process is to get your finances in order first. Get your credit reports pulled and your income verified to see where you stand. If you don’t do this first I guarantee that you will have problems. Most want to go and look at homes first and then apply for a mortgage. This is why all the nightmares you hear about happen in the lending industry.Meet with reputable lenderAfter you have been approved for a mortgage meet […]
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