Home Loans ? Identity Theft Protection Could Hurt Home Sales Finance Articles | July 19 Uomo Nike Air Max 97 KPU TPU Nere Saldi , 2005

Identity theft has been a hot topic in the news during the last few years. Just a month or so ago, forty million credit card numbers were compromised due to a computer attack on a credit card processor. Consumers are rightly concerned, as it can take years to unravel the problems created when someone?s identity is stolen. New legislation in Texas and California, also proposed elsewhere, is designed to protect consumers by letting them put a ?freeze? on their credit reports. Those in the real estate industry are worried Donne Nike Air Max 97 UL '17 Triple Bianche Italia , however, that doing so may make it difficult for some people to buy homes.



The concept of freezing credit reports is a simple one. Every time someone applies for credit, the lender contacts on of the three main credit bureaus and requests a copy of his or her credit report, which contains the applicant?s FICO score. The score, a number ranging from 300 to 850 Nike Air Max 1 Just Do It Nere Scontate , indicates how worthy the applicant is to qualify for the loan or credit. The new laws allow consumers to ?freeze? their credit reports, effectively blocking any attempts by anyone to view his or her credit score. If the score can?t be viewed, then credit can?t be issued, thus protecting the consumer from fraudulent activity.


The process is a simple one, and can be initiated or canceled with a simple transaction on the Internet. The problem Uomo Nike Air Max 95 Just Do It Nere Bianche Italia , according to those in the real estate industry, is that this simple security precaution may make it difficult for a consumer who has blocked their credit to buy a home. In many markets, homes put up for sale sell in a few hours or days, and the process of unfreezing a credit report can take longer than that. If a home seller or lender cannot assess a potential buyer?s credit rating, then the home sale may be lost to another buyer. True Acquistare Uomo Nike Air Max 95 Just Do It Bianche Nere , it is a simple process to unfreeze