You Just Bought a House! Now Go Freeze Your Credit

By
Real Estate Agent with GreatNorfolkHomes.com (757) 560-0881

You Just Bought a House! Now Go Freeze Your Credit

Ice CubesEvery day we hear about identity thieves hijacking people's social security number and other data in order to open credit accounts. The process of fixing a credit file after it has been hijacked can be frustrating and time consuming. The best way to make sure that you are not a target of identity thieves is to freeze your credit.


After you have purchased a house is the perfect time to think about freezing credit, if you have not done so already. Freezing your credit should be done when you do not have any current need to open a new credit account. Credit accounts are things like mortgages, student loans, credit cards, and car loans. A credit freeze is much more robust than credit monitoring. And better yet, a credit freeze is extremely inexpensive. In the state of Virginia, it costs just a one-time fee of $10 per bureau (there are three of them) to freeze your credit.   However, if you are the victim of identity theft, you can freeze your credit at no charge.   You will need to check with your own state to find out the cost for requesting a credit freeze.

When you freeze your credit, you are issue a personal identification number (PIN). In order to thaw your credit, you will need this PIN. Your PIN should be kept with your files that are sensitive, like social security cards or the title to your home. After your credit is frozen, even if an identity thief has your social security number, mother's maiden name, the name of the street you grew up on, or any other identifying piece of information, they will NOT be able to open a single credit account using your identity.

Once someone has undergone the rigorous process of qualifying for a mortgage to purchase a home, it is likely that they have all the credit that they need for the foreseeable future. It is a perfect time to exercise the best tactic to combat identity theft!


You Just Bought a House! Now Go Freeze Your Credit

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(c) Copyright 2012 Kathryn Maguire.  All rights reserved.

Kathryn Maguire, MBA, GRI, ABR, SFR, and e-Pro  

The Real Estate Group

Serving all of Hampton Roads, Virginia, including Chesapeake, Virginia Beach. Norfolk, Suffolk and Portsmouth

GreatChesapeakeHomes.com

GreatNorfolkHomes.com

GreatVABeachHomes.com

Kathryn@MyAgentKathryn.com

(757) 560-0881 (Cell)

(757) 410-8500 (Office)

(888) 696-2613 (Fax)

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Michael Dagner 03/14/2015 02:58 AM
Topic:
Home Buying
Groups:
ActiveRain Contests
Tags:
credit freeze

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Rainmaker
206,164
Sophia Lin
Intero Real Estate Services - Sunnyvale, CA
Sunnyvale CA Real Estate Specialist

Hi Katheryn, I learned something new...freezing your credit.  Thanks for that valuable info, I could use it myself and also pass it on to my clients!

Nov 12, 2012 03:36 AM #1
Rainer
346,988
Ki Gray
SkiHomes.com LLC - Aspen, CO
SkiHomes.com - the ultimate snowsport home search!

Thanks for the tips, Kathryn.  I can definitely see why a credit freeze would be useful for some individuals.

Nov 12, 2012 03:38 AM #2
Rainer
278,100
Kathryn Maguire
GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA
Serving Chesapeake, Norfolk, VA Beach

Thanks Sophia.  I have had my own credit frozen for almost a decade.

Ki:  If you want to prevent identity theft, it is the only way!

Nov 12, 2012 03:47 AM #3
Ambassador
2,009,469
Michelle Carr Crowe,Altas Just Call...408-252-8900!
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Interesting perspective. Probably a good way to keep out of trouble.

Nov 12, 2012 09:41 AM #4
Ambassador
1,552,981
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Kathryn  I never realized that was available - suggesting for feature

Nov 12, 2012 10:39 PM #5
Rainmaker
2,972,748
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Kathryn that is a great idea, I need to look into doing that for me

Nov 12, 2012 11:31 PM #6
Rainer
278,100
Kathryn Maguire
GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA
Serving Chesapeake, Norfolk, VA Beach

Michelle: it really is the only way to save yourself from identity theft.

Karen:  We just refinanced our home and I had to thaw our credit. It was FREE and took about 10 minutes to do both my husband I my thaw for all three bureaus. 

Scott: The credit agencies don't want us to do it because they loose money by not being able to sell our files.  Makes me like it even more!

Nov 12, 2012 11:42 PM #7
Rainmaker
1,535,925
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Kathryn Maguire You know this is an excellent idea. Your post is so valuable; thank you. We do need to be vigilant!

Mar 14, 2015 03:07 AM #8
Rainmaker
797,809
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Kathryn - Thanks for sharing this information, which can become very valuable in protecting your identity and credit.

Mar 14, 2015 12:19 PM #9
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Rainer
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Kathryn Maguire

Serving Chesapeake, Norfolk, VA Beach
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