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Consumers Beware!

Identity Theft is alive and well!! I have seen countless credit reports lately with fraud and identity theft written all over them. It starts when a client goes to buy a new car or apply for a line of credit. All of the sudden they are declined for the first time in their life and they have no idea why. People don't realize how quickly a few erroneous items on one's report can take a score down 100 points or more. Protect your credit! It's not just a number. Failing to take steps to clear the fraud with the credit bureaus could cost you hundreds or thousands of extra dollars on a home loan, a car payment or a credit card or insurance bill. Make sure you guys are checking your report every so often and make sure that you keep track of your open and closed accounts. Have a great day!

Posted by Justynn Royal on 04/30/2008 03:54 PM

Comments (4)

fraud, mortgage, fico, credit, bad credit, theft, identity, consumer

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4 Comments on Consumers Beware!

Justynn, it's so important to stay on top of credit issues. It's so easy to do now that everyone should be checking to protect themselves.

04/30/2008 04:08 PM

by Ray Nellum, Fort Smith Real Estate (Ramona Roberts Realtors)

A buyer just found an old lien for $28,00 but when the reporting bureaus picked it up it cost here 100 points on her credit rating ! Trying to get it off will take approx foreever !

04/30/2008 04:12 PM

by Bill Gillhespy Fort Myers Beach Realtor (Century 21 Tripower Realty)

How old is it? Federal, state or other? I may be able to help you if you're trying to get her closed in a reasonable amount of time

04/30/2008 05:15 PM

by Justynn Royal (RMCN Credit Services Inc)

I just had a first time homebuyer that found a mortgage on her credit that did not belong to her.....come to find out someone used her identity to purchase a home about 2 hours from her where she was wanting to move to. How ironic is that!!! Now she is trying to figure out if she owns another house or what to do, she contacted a lawyer and hopefully all will turn out okay.

04/30/2008 08:52 PM

by Dione Sage (American Mortgage Specialists)

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