I received this email from a friendly Mortgage Broker in our area. She sends me updates on the industry and keeps me informed of what's going on in the market, with weekly emails. A couple I have thought I would pass on, but never did. That old fear of plagarism. Since she has put at the bottom that I should pass this information on, I almost feel that it gives me permission to post this. I have a call in to her asking for her permission to do so. Update - I received a call back giving me the okay to post the notice.
Alert!
Your Name is Being Sold - Take Action Now!
Here’s
breaking news you need to know … and you need to let all
your family and friends know right away as well.
Your
information … a hot commodity
Very
few people realize that each time their credit is checked, the
“inquiry data” that the credit bureaus (Equifax,
TransUnion, Innovis or Experian) have on file have now become a
commodity. This information is being sold by the credit bureaus to
other lenders…and also to companies that sell and resell the
same names and personal information.
That’s
right – the credit bureaus have found a way to increase their
revenues at your expense….and without your permission.
These
“inquiry leads” include name, address, phone
numbers (including unlisted), credit score, current debt and debt
history, property information, age, gender and estimated income. They
are marketing personal, confidential information to competing
creditors…and making millions. Your privacy is being sold,
not just once, but over and over again.
And
lenders that purchase these leads at a premium will then do everything
they can to recoup their investment and turn a hefty profit. Super
sneaky bait and switch tactics are being used to lure clients away from
their reputable lender. Clients have even been called by disreputable
lenders and told that the lender they had been speaking to previously
“passed on” the information to them, because they
knew that they’d be able to offer much better interest rates
and terms. Ouch!
Just
Say “No”
The
consumer credit reporting industry has provided a way to “opt
out” and remove your name from these lists. You can contact
them by phone at 1-888-567-8688 or online at www.optoutprescreen.com
You must opt out at least 48 hours prior to having your credit checked
to make sure it is processed in time. You can choose a five year or
lifetime option, and the lifetime option does require a signed form. If
a credit report needs to be run prior to the 48 hour waiting period
– at least you are aware and informed, and can be on the
lookout for suspicious phone calls or mailers from someone who has
purchased your data.
The
good news is by opting-out you can make it stop right away and protect
yourself from “pre-approved credit offers” arriving
via mail, which is one of the leading causes of identity theft in the
US.
Take
your privacy back. Take
five minutes right now – opt out, and pass it on. Refuse to
be a part of this system
Michelle
Teeter, Licensed Mortgage Broker
Cell:
813.300.2522
Email: mteeter@ussa1.com
I'm
not putting in a plug for Michelle, but since I used her words, I'm
hoping including her information doesn't violate AR rules.
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