Is Your Identity Safe?

Here is important informaton you need to know… and you need to tell your family and friends right away!

Few people realize that each time their credit is checked, the information provided to the credit bureaus (Equifax, TransUnion, Innovis or Experian) immediately becomes a commodity that is sold not only to other lenders but 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 our expense, without our 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. Our privacy is being sold, not just once, but over and over again.

Lenders that have purchased these leads at a premium will then do everything they can to recoup their investment and turn a profit. Often, bait and switch tactics are being used to lure buyers away from reputable lenders.

The good news is that you can help make it stop! The consumer credit reporting industry has provided a way for consumers to “opt out” or remove their name from these lists. You can contact them by phone at (888) 567-8688 or online at https://www.optoutprescreen.com/?rf=t.

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. The lifetime option does require a signed form.

Remember to call this number or go to this website BEFORE you begin shopping for mortgages to stop your name from being sold. If you are a real estate broker, be sure to share this information with your clients. You will be providing a great service to your buyers!!!

For more helpful Buyer Tips, visit my website at www.CristinaTheRealtor.com.