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Mortgage bond prices shot higher last week driving home loan rates lower. Mortgage rates found support from investors around the world following last week’s Treasury auctions. The Treasury sold bonds totaling 104B that were well received by foreign central banks. The indirect bidder participation, an indication of foreign demand, was near all-time highs. For the week interest rates fell by over a full discount point.

The employment report Thursday will be the most important release this week. The ADP employment report will give an earlier glimpse into the employment situation though the two reports are derived from different data so there could be some divergence. Strength in the other economic data will do little to help mortgage interest rates improve.

Economic Factors
Economic Indicator	Release Date Time	Consensus Estimate	Analysis
Consumer Confidence	Tuesday, June 30, 2009	55.1	Important. An indication of consumers’ willingness to spend. Weakness may lead to lower mortgage rates.
ADP Employment	Wednesday, July 1, 2009	-363k	Important. An indication of employment. A large decrease in payrolls may bring lower rates.
ISM Index	Wednesday, July 1, 2009	44.00	Important. A measure of manufacturer sentiment. A larger decline may lead to lower mortgage rates.
Employment	Thursday, July 2, 2009	9.6%, -370k jobs	Very important. An increase in unemployment or a large decrease in payrolls may bring lower rates.
Factory Orders	Thursday, July 2, 2009	Up 0.2%	Important. A measure of manufacturing sector strength. Weakness may lead to lower rates.
Market Holiday	Friday, July 3, 2009	None	Important. Bond market closed in honor of Independence Day.

Mortgage bond prices shot higher last week driving home loan rates lower. Mortgage rates found support from investors around the world following last week’s Treasury auctions. The Treasury sold bonds totaling 104B that were well received by foreign central banks. The indirect bidder participation, an indication of foreign demand, was near all-time highs. For the week interest rates fell by over a full discount point.

The employment report Thursday will be the most important release this week. The ADP employment report will give an earlier glimpse into the employment situation though the two reports are derived from different data so there could be some divergence. Strength in the other economic data will do little to help mortgage interest rates improve.

The Dallas area is getting high marks from another national housing forecast firm.

Dallas ranks among the top metro areas based on expected home price performance this year, according to Local Market Monitor, a North Carolina housing sector consultant.

“Home values for the Dallas-Plano-Irving Metropolitan Statistical Area are forecast to remain constant over the next 12 months,” Local Market Monitor spokeswoman Lauren Brown said. “This is compared to a 6.6 percent forecast decrease in home prices nationally.”

Fort Worth, Houston, McAllen and San Antonio were also on the list of markets with “the best expected performance in home price,” according to the report released Tuesday.

“These are markets that did not have a large boost in home prices over the last few years and therefore, even though the economy is doing poorly, no adjustment in prices has been necessary,” housing economist Ingo Winzer said in the report.

Actually, home prices are down more than 15 percent in the Dallas-Fort Worth area during the last two years based on sales of pre-owned homes through the Multiple Listing Service.

But that’s still one of the smallest home price declines among major U.S. metropolitan areas.

The National Association of Realtors reported Tuesday that nationwide median home prices in May were down almost 17 percent from a year earlier.

And in 2008, nationwide prices fell more than 15 percent, according to the real estate trade association.

Click here for the full story…
DALLAS NEWS
June 23, 2009

Have you ever wondered why everyone has advice regarding mortgage rates?

Many consumers depend on the media or word of mouth to determine if it’s the right time to purchase or refinance, and what rate to expect. While this may seem like the easiest way to gain information, it is the least reliable.

Mortgage rates continue to be extremely volatile and information becomes outdated very quickly. As a consumer, it’s important to understand that mortgage rates change with the movement in the bond market, specifically the value of mortgage-backed securities. These changes happen daily and sometimes multiple times a day.

Consumers need to know the difference between a rate quote and a rate-lock commitment. The quote is not a guaranteed rate until it is locked. The rate lock is tied to the property address, so when shopping for a home, understand that any rate quotes you’ve obtained while comparison shopping cannot be locked in. This gives lenders the ability to quote a low interest rate to obtain your business, knowing they do not have to honor the rate. Additional considerations must be taken into account when building a new home. With three to six months to wait for the home to be completed, a lot can happen to rates. Many times, an extended lock-in period is an option, however a buyer should be prepared for payments at 1 percent above the current market rate to adjust for market fluctuations on the budget.

So, why can’t a lender simply quote a rate?

There are many factors that determine how a mortgage loan is priced. The loan program, term of the loan and the amount borrowed will determine the “base” rate. Once this is established, additional characteristics specific to the borrower are taken into consideration. The borrower’s credit scores, debt-to-income ratio and down payment amount factor into the final price. At the point a rate is established, the client can elect to obtain a lower interest rate by paying discount points. A discount point is equal to 1 percent of the loan amount, and is added to the standard closing costs.

When evaluating rate options, it’s important to determine how much lower the rate will be as a result of paying the extra points and how long it will take to recoup the cost with the monthly savings. A good lender will provide the guidance to determine if it’s worth paying the point – not simply quote the rates.

Despite the volatility, interest rates are at historic lows, and there’s never been a better time to buy real estate. Low rates coupled with the $8,000 first-time homebuyer tax credit offer unprecedented incentives to become homeowners. Rates are great, and although it is human nature to want them to go even lower, the truth is that many people may miss the boat.

“When rates go down, it creates interest,” says Stephen Brooks, president of Grand Homes. “We see opportunists flocking to our subdivision to explore their options. Obviously, everyone would like to take advantage of the low rates to maximize their buying power. On the flip side, when rates go up, we see an increase in activity based on the fear of loss. Potential homebuyers are afraid to miss the opportunity, and higher rates motivate them to get off the fence.”

Grand Homes has seen a good increase in home sales, and has already sold 40 homes this month. In addition, it has started 40 new homes.

Click here for the full story…
DALLAS NEWS 
June 28, 2009

Why pay for all the things you love to do the most—like go to the movies, enjoy new products or play video games—when you can do them all for free? Here are the nine best ways to have a great time without spending a penny…

 

1.       Try hot new products
Savvy manufacturers know you’re probably not going to plunk down good money on products you’ve never tried before. That’s why they’re so willing to offer free samples of everything from cookies and yogurt to shampoo and cosmetics! Find out more at www.starsampling.com and www.walmart.triaddigital.com/Free-Samples.aspx.

Tip: Sample offers change continuously. So check back often.

 

2.       Love movies?
Pay nothing to see them before everyone else. Head to www.filmmetro.com for free passes to “advance movie screenings,” special showings before the big release of new movies. Passes (good for two people) are given away on a first-come first-serve basis, so check the site frequently. Not in L.A. or N.Y.C.? not a problem—screening take place all over the country. “Movie Executives use them as marketing tool to find out how audiences respond to the film and to create a bigger buzz about it, “explains Brian Meert, spokesperson for FilmMetro.com.

Tip: Advance movie screenings are usually overbooked; arrive an hour early to be sure to snag a seat.

 

3.       Get hair makeover
Have you been waiting to try out a new hairstyle or color? Good news: Salon owners and stylist want to give them to you—free! The Reason? Salon owners need hair models to demonstrate the latest styles and color products to their employees. And stylist need hair models to prove their skill when they switch salons. You may not be able to choose the exact cut and color, but with professionals doing the work, you can rest assured that you’ll end up looking beautiful. To find out who’s looking for hair models, visit your local salons or do a search for “hair model” at www.craigslist.com.

Did you know: Most spas offer “mini services”—shorter version of massages, facials and other treatments—at a fraction of the cost.

 

4.       Indulge on your birthday
Kids aren’t the only ones who can get free frozen treats by joining birthday clubs: Cold Stone Creamery offers a no-cost, medium-size “signature” ice cream creation on you special day to anyone who signs up at www.coldstonecreamery.com; Baskin Robbins gives a free scoop and $3 off an ice cream cake (www.baskingrobbins.com/BDayClub); and Dairy Queen hands out a 16-oz. Blizzard treat (www.blizzardfanclub.com/join). More birthday bonuses: Loehmann’s offers a 15% off coupon for birthday club members (www.loehmanns.com/site.cfm?nav=insider) and Borders bookstore offers 15% off one regular price item or one free dessert at their café on your birthday when you sign up for their free Borders Rewards program (www.bordersrewards.com).

Dine out—at a huge discount: Get up to 50% at top-of-the-line restaurants around the country at www.restaurant.com.

 

5.       Go to wine tastings—without leaving your neighborhood
The samples at wineries may be free, but traveling to them can be pricey if they’re not nearby. A better alterative? Head to your local wine store. Most offer monthly, weekly and even daily free tastings of the wines they carry.

Bonus: There are often experts on hand to give mini-seminars, so you can learn about even more wines than if you’d visited a vineyard.

 

6.       Enjoy a laugh at live comedy show—no cover or minimum
How? By going on open-mic night. Virtually all comedy clubs have them—it’s how they audition future talent. Plus, well-known comics often drop by open-mics to polish their material, which means you’ll be getting a sneak peek at their latest jokes.

Heading to an amusement park? Get discounted tickets at www.amusementpark.com and www.sidestep.com, and at discount clubs, such as BJs, Costco or Sam’s Club.

 

7.       Watch your favorite TV shows whenever you want
You’ll never have to worry about your DVR filling up and missing 24, House, Desperate Housewives, Grey’s Anatomy or any of your favorite TV shows again thanks to AOL Video (video.aol.com). At this free website, you can watch full episodes of popular programs from all the major networks as well as dozens of cable channels, like A&E and Bravo, at the touch of a button. Even better? There are just one or two commercials per episode compared to the dozens you get on TV.

 

8.       Play computer games
It’ll be impossible to get bored at www.download.com, where new family-friendly, free computer games are added all the time. Even better—you don’t have to worry about spyware or viruses, since all the software has been screened by the trusted technology company CNET.

Type in “cell phone” into the search engine to download free software that’ll transform your cell phone into a game console.

 

9.       Taking a walking tour of famous cities without lifting your feet
Get a feel for what it’s like to stroll down ritzy Fifth Avenue in New York City or the exciting Las Vegas Strip with Google’s recently launched free virtual walking tours. Made up of million of photos with shockingly clear detail, you can use your mouse to “walk” down streets in over a dozen major U.S cities, including New York City, Las Vegas, Los Angeles and Chicago. Head to maps.google.com/help/streetview/ to start your tour.

Air Conditioning System

 

-Routine Maintenance Tips

• To ensure efficient operation, check filters every month. Clean or replace as needed.
• Have annual system maintenance service performed one month before the cooling season begins.
• Keep the condensing unit free of debris.
• Trim shrubs and plants near condensing unit to ensure proper air flow/circulation.
• Bent condensing unit fins can be straightened with a fin comb.

 

-Quick Fixes

Problem: Water leaks into the walls or ceiling.

• Make sure the drain line is not restricted and condensation drains freely.

 

Problem: Unit constantly cycles on and off.

• Call a qualified professional to clean the evaporator and fan.

 

Problem: Air conditioner doesn’t make air cool enough.

• Keep the area around the exterior condensing unit clear of leaves, bushes and other obstructions to ensure adequate airflow.
• Clean or replace the air filter.
• Create shade for the unit.
• Secure the insulation firmly to the suction line (large line) and replace any worn-out insulation.

 

Heating System

-Routine Maintenance Tips

• Check filters every month.
• Smell around the appliance for gas odors.
• Visually inspect exhaust vent for rust, damage or deterioration.
• Have annual system maintenance service performed one month before the heating season begins.

 

-Quick Fixes

Problem: There is no heat at all.

• Check for blown fuses or a tripped circuit breaker.
• Replace the drive belt.
• Call a qualified professional.

 

 

Problem: Your rooms aren’t warm enough.

• Replace the filter.
• Clean the registers; remove obstructions blocking register.
• Seal the leaking ducts with duct tape.
• Call a qualified professional.

 

Problem: Soot collects in your house.

• Replace the filter.
• Call a qualified professional to clean heating system.

 

Problem: The blower makes unusual noises when the burner is off.

• Tighten the setscrews of the pulley.
• Replace the blower mounts.
• Replace the drive belt.
• Adjust the belt tension.
• Call a qualified professional.

 

Electrical System

 

-Routine Maintenance Tips

• To help prevent power outages, make sure there are not too many appliances plugged into one circuit.
• Regularly use self-test button on ground fault circuit interrupters/arc fault circuit interrupters to ensure proper working order.

 

-Quick Fixes

Problem: No electricity to an outlet.

• Check circuit breaker box.
• Try plugging in another item to that outlet.
• Check all other outlets.
• Call a qualified professional.

 

-Technical Terms

Circuit Breaker:

A device for interrupting an electric circuit to prevent excessive current, as caused by a short circuit, from damaging the apparatus in the circuit or from causing a fire.

 

GFCI (Ground Fault Circuit Interrupter):

A life safety device commonly used in outdoor, bathroom and kitchen locations that limits ground fault to 5 milliamps.

 

Plumbing System

-Routine Maintenance Tips

• Toilet paper should be the only product flushed down a toilet.
• Maintain water softener according to manufacturer’s recommendations.
• Water filters and icemaker filters should be changed according to manufacturer’s recommendations.
• Avoid using your garbage disposal if you’re on a septic system.
• Drain sediment from water heater tank according to manufacturer’s recommendations.

 

-Quick Fixes

Problem: little or no water from the faucet or shower head.

• Check to ensure water shut-off valves are completely open. Remove aerators and clean them as needed.
• Call a qualified professional.

 

-Technical Terms

Shut-off valve:

A valve that controls the flow of water to an individual fixture, allowing water supply to be stopped to one fixture without affecting the water supply to other fixtures.

 

Aerator:

A device that exposes air or causes air to circulate through the water line.

 

Range/Oven

-Routine Maintenance Tips

• To avoid damaging the burners/heating elements, do not use extra-large and heavy cooking pots or pans.
• If you have a self-cleaning oven, do not use any other method to clean it.
• Mineral deposits on the electric heating element can be cleaned with vinegar.
• Clean or change range hood exhaust filters regularly.

 

-Quick Fixes

 

Gas Range

 

Problem: A surface burner doesn’t light.

• Ensure gas shut-off valve is turned to the open position.
• Follow the manufacturer’s instructions for relighting the pilot.
• Repair or replace spark igniter.

 

Problem: Pilot light doesn’t remain lit.

• Use a small wire to clean the port.
• Try to prevent drafts near the range.
• Replace thermocouple.

 

Electric Range

 

Problem: The range is not working at all.

• Check for blown fuses or a tripped circuit breakers. If you don’t find a problem, call an electrician.

 

Problem: One of the elements doesn’t heat.

• Check each part for continuity and replace if necessary.

 

Refrigerator

-Routine Maintenance Tips

• Clean the interior shelves, shell and gaskets every three months.
• Once a year, clean the coils on the back or underneath with a vacuum cleaner.
• 37ºF is an ideal temperature for your refrigerator compartment and 0ºF for the freezer.
• If the door gasket is sealing properly, it should hold a dollar bill in place when closed.

 

-Quick Fixes

Problem: The refrigerator is not running, no sound can be heard and the interior light is out.

• Check for blown fuse or tripped circuit breaker.
• Check plug and replace the cord if damaged.

 

Problem: The Refrigerator constantly cycles on and off.

• Clean the coils with a vacuum only.
• Call a qualified professional.

 

Problem: The Refrigerator has stopped running, the light is on and you hear an occasional clicking.

• Replace fan if necessary.
• Test the thermostat and replace if necessary.

 

Problem: Frost forms rapidly or the unit does not defrost.

• Open door less often.
• Adjust the door hinges to ensure a tight door seal.
• Clean or replace the gasket. Leaks in the door seal will make it difficult to maintain desired temperature.

 

Washer

-Routine Maintenance Tips

• To adjust the level of your washing machine, turn the legs clockwise to lower them or counter-clockwise to raise them.
• Inspect cold and hot supply hoses for cracks or deterioration.

 

-Quick Fixes

Problem: Washing machine does not operate.

• Check for blown fuses or tripped circuit breaker.
• Open the water shut-off valves.

 

Problem: Washing machine doesn’t fill with water.

• Check and clean the hot and cold inlet hose filters.
• Straighten the water supply hoses.
• Turn the timer slightly or press the buttons firmly.

 

Problem: Water doesn’t stop filling the tub.

• Check the overflow switch and replace it.
• Replace the timer or call a qualified professional.

 

Problem: Tub fills with water but machine doesn’t run.

• Make sure the lid is closed. If it is, ensure switch is fully pressed.
• Lighten load and wait 15 minutes for the motor to reset.

 

Dryer

-Routine Maintenance Tips

• Clean the lint screen after each load of clothes has been dried.
• To adjust the level of your clothes dryer, turn the legs clockwise to lower them or counter-clockwise to raise them.

 

-Quick Fixes

Problem: Dryer does not operate.

• Check for blown fuses or tripped circuit breaker.
• Check the door switch and replace if necessary.
• Check the timer control and replace if necessary.

 

Problem: Motor runs, but the drum doesn’t run.

• Open the unit and look for obstructions around the drum.
• Replace the belt.
• Check the drum assembly and repair/replace if necessary.

 

Problem: Drums turns, but clothes remain wet.

• Clean the lint screen and the exhaust vent.
• Check the thermostat and replace if necessary.
• Check the heating element and replace if necessary.
• Check the timer and replace if necessary.

 

Problem: It takes too long to dry a load.

• Clean the lint screen and exhaust vent.
• Reduce the load and try again.

 

Garbage Disposal

-Routine Maintenance Tips

• To clean the disposal, feed a full tray of ice cubes through it while running cold water.
• To prevent stoppages, remember to run water during use and for at least twenty seconds after you finish.
• Make sure rubber splashguard is not damaged or missing.
• Avoid using a garbage disposal if you are on a septic system.

 

-Quick Fixes

Problem: Garbage disposal does not operate.

• Check for blown fuses or tripped circuit breakers. If the disposal is plugged into a wall outlet, ensure the outlet has power.
• On continuous-feed models, check the wall switch. On batch-feed models, check the stopper switch.
• If the flywheel is jammed, free it using the supplied tool or a long wooden spoon handle. Push the reset button.

 

Problem: Motor hums but unit doesn’t grind.

• Free the flywheel using the supplied tool. Push the reset button.
• Call a qualified professional.

 

Problem: The disposal grinds things too slowly.

• Run more cold water when using the disposal.
• Only dispose of materials allowed by the manual.
• Replace defective parts

Many buyers peruse neighborhoods looking at the listed properties from the outside before contacting the listing agent to show them the inside. A first impression is hard to shake and if the prospective buyer doesn’t like the house from the outside, they probably won’t inquire at all. To get them past the front door, you need to add some curb appeal. Here’s a list of items that will definitely add value to your home.

 

Outside Maintenance

 

• Clear your gutters and downspouts of debris (leaves, sticks, etc.) that may block the flow of water from your roof. 
• Properly grade the area under your downspouts and around your house, so rainwater flows away from your foundation. Splash blocks can help rainwater at downspouts flow in the proper direction. If necessary, add extensions to your downspouts. 
• Planting should be set away from the foundation to ensure regular watering does not add to soil moisture around the basement. Lawn sprinklers should not hit the foundation and promote an environment for mold growth. 
• Ensure that landscaping around the foundation (sidewalks, patios, gardens, etc.) starts at 8 inches down from the top of your foundation wall and slopes away from the home. Failure to do so may cause moisture to build up at or around the foundation and promote an environment for mold growth. 
• Keep mulch, dirt and other landscaping material away from veneer drainage system weep holes commonly found on, but not limited to masonry and stucco homes. The veneer drainage system diverts water away from the interior of the exterior wall system and the weep holes allow the water to escape the wall. If the weep holes are blocked or clogged with debris, mold may form on the interior of the exterior walls. The weep holes are found at the bottom of the finished veneer. 
• Sidewalks, steps and exterior foundation cracks should be filled or parged to bring up to date. 
• Caulking around windows, doors, chimney/siding cavity, foundation, and other common leakage points is necessary to prevent any moisture intrusion.

 

Inside Maintenance

 

• Clean everything in sight. The kitchen, bathroom, bedrooms and general living spaces and clean/test household appliances and equipment. No matter what physical condition the property is in, it should be clean, tidy and uncluttered. 
• You want buyers to view your home as their potential home. Therefore put away family photos, sports trophies, collectable items, knick-knacks and souvenirs. Put away in a box or a rented storage area for a few months. 
• Shampoo rugs and wax floors. 
• Wash walls and use a broom to clear cobwebs from the corners of rooms and closets. 
• Wash windows and clean blinds or draperies. 
• Repair small things now, like leaky faucets, missing tiles or broken screens. 
• Replace all burned-out light bulbs. 
• Properly insulate (12” of blanket or 8” of blown-in insulation) and ventilate the attic of your home. 
• If you are a smoker, clean, prime and paint any nicotine stained walls and ceilings thoroughly and refrain from smoking in the home.

 

Basement

 

• Neaten up the basement. 
• Clean up and correct any water problems in your basement, including upgrading the foundation with a mortar parging at all loose cavities and cracks. 
• Test sump pump.

 

The Day of the Showing

 

• Before you leave, turn on all lights, open all curtains and shutters to let in as much light as possible but screen out unappealing views.

Introduction

In the course of a busy day, you may write a check at the grocery store, charge tickets to a ball game, rent a car, mail your tax returns, change service providers for your cell phone, or apply for a credit card. Chances are you don’t give these everyday transactions a second though. But an identity thief does.

 

Identity theft is a serious crime. People whose identities have been stolen can spend months or years – and thousands of dollars – cleaning up the mess the thieves have made a food name and credit record. In the meantime, victims of identity theft may lose job opportunities, be refused loans for education, housing, or cars, and even get arrested for crimes they didn’t commit. Humiliation, anger, and frustration are among the feelings victims experience as they navigate the process of rescuing their identity.

 

Working with other government agencies and organizations, the Federal Trade Commission (FTC) has produced this booklet to help you remedy the effects of an identity theft. It describes what steps to take, your legal rights, how to handle specific problems you may encounter on the way to clearing your name, and what to watch for in the future.

 

 

How Identity Theft Occurs

        I first was notified that someone had used my Social Security number for their taxes in February 2004. I also found out that this person opened a checking account, cable and utility accounts, and a cell phone account in my name. I’m still trying to clear up everything and just received my income tax refund after waiting four to five months. Trying to work and get all this cleared up is very stressful.

                                                From a consumer’s complaint to the FTC, July 9, 2004

 

Despite your best efforts to manage the flow of your personal information or to keep it to yourself, skilled identity thieves may use a variety of methods to gain access to your data.

 

How Identity Thieves Get Your Personal Information:

·        They get information from businesses or other institutions by:

Ø      Stealing records or information while they’re on the job

Ø      Bribing and employee who has the access to these records

Ø      Hacking these records

Ø      Conning information out of employees

 

·        They may steal your mail, including bank and credit card statement, credit card offers, new checks, and tax information.

 

·        They may rummage through your trash, the trash of businesses, or public trash dumps in a practice known as “dumpster diving.”

 

·        They may get your credit reports by abusing their employer’s authorized access to them, or by posing as a landlord, employer, or someone else who may have a legal right to access your report.

 

·        They may steal your credit or debit card numbers by capturing the information in a data storage device in a practice known as “skimming.” They may swipe your card for an actual purchase, or attach the device to an ATM machine where you may enter or swipe you card.

 

·        They may steal your wallet or purse.

 

·        They may steal personal information from you through email or phone by posing as legitimate companies and claiming that you have a problem with your account. This practice is known as “phishing” online, or “pretexting” by phone.

 

How Identity Thieves Use Your Personal Information:

·        They may call your credit card issuer to change the billing on your credit card account. The imposter then runs up charges on your account. Because your bills are being sent to a different address, it may be some time before you realize there’s a problem.

 

·        They may open new credit card accounts in your name. when they use the credit cards and don’t pay the bills, the delinquent accounts are reported on you credit report.

 

·        They may establish phone or wireless service in your name.

 

·        They may open a bank account in your name and write bad checks on that account.

 

·        They may counterfeit check or credit or debit cards, or authorize electronic transfers in your name, and drain your bank account.

 

·        They may file for bankruptcy under your name to avoid paying debts they’ve incurred under your name, or to avoid eviction.

 

·        They may buy a car by taking out an auto loan in your name.

 

·        They may get identification such as driver’s license issued with their picture, in your name.

 

·        They may get a job or file fraudulent tax returns in your name.

 

·        They may give your name to the police during an arrest. If they don’t show up for their court date, a warrant for arrest is issued in your name.

 

 

If Your Personal Information Has Been Lost Or Stolen

If you’ve lost personal information or identification, or if it has been stolen from you, taking certain steps quickly can minimize the potential for identity theft.

 

·        Financial accounts: Close accounts, like credit cards and bank accounts, immediately. When you open new accounts, place passwords on them. Avoid using your mother’s maiden name, your birth date, the last four digits of your Social Security number (SSN) or your phone number, or a series of consecutive numbers.

 

·        Social Security number: Call the toll-free fraud number of any of the three nationwide consumer reporting companies and place an initial fraud alert on your credit reports. An alert can help stop someone from opening new credit accounts in your name. for consumer reporting company contact information, see page 5. for more information about fraud alerts, see page 6.

 

·        Driver’s license/ other government-issued identification: Contact the agency that is issued the license or other identification document. Follow its procedures to cancel the document and to get a replacement. Ask the agency to flag your file so that no one else can get a license or any other identification document from them in your name.

 

Once you’ve taken these precautions, watch for signs that your information is being misused. See Staying Alert, page 27.

 

If your information has been misused, file a report about the theft with the police, and file a complaint with the Federal Trade Commission, as well. If another crime was committed – for example, if your purse or wallet was stolen or your house or car was broken into – report it to the police immediately.

 

 

Identity Theft Victims Immediate Steps

If you are a victim of identity theft, take the following four steps as soon as possible, and keep a record with the details of your conversations and copies of all correspondence.

 

1.     Place a Fraud Alert on Your Credit Reports, and Review Your Credit Reports.

 

Fraud alerts can help prevent an identity thief from opening any more accounts in your name. contact the toll-free fraud number of any of the three consumers reporting companies below to place a fraud alert on your credit report. You only need to contact one of the three companies to place an alert. The company you call is required to contact the other two, which will place an alert on their versions of your report, too.

 

• Equifax: 1-800-525-6285; www.equifax.com; P.O. Box 740241, Atlanta, GA 30374-0241

 

• Experian: 1-888-EXPERIAN (1-888-397-3742); www.experian.com; P.O. Box 9532, Allen, TX 75013

 

• TransUnion: 1-800-680-7289; www.transunion.com; Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92834-6790

 

Once you place the fraud alert in your file, you’re entitled to order free copies of your credit reports, and, if your ask, only the last four digits of your SSN will appear on your credit reports.

Once you get your credit reports, review them carefully. Look for inquiries from companies you haven’t contacted, accounts you didn’t open, and debts on your accounts that you can’t explain. Check that information like your SSN, address(es), name or initials, and employers are correct. If you find fraudulent or inaccurate information, get it removed. See Correcting Credit Reports, page 17 to learn how. Continue to check your credit reports periodically, especially for the first year after you discover the identity theft, to make sure no new fraudulent activity has occurred.

 

 

Fraud Alerts

 

There are two types of fraud alerts: an initial alert, and an extended alert.

 

·        An initial alert stays on your credit report for at least 90 days. You may ask that an initial fraud alert be placed on your credit report if you suspect you have been, or are about to be, a victim of identity theft. An initial alert is appropriate if your wallet has been stolen or if you’ve been taken in by a “phishing” scam. When you place an initial fraud alert on your credit report, you’re entitled to one free credit report from each of the three nationwide consumer reporting companies.

 

·        An extended alert stays on your credit report for seven years. You can have an extended alert placed on your credit report if you’ve been a victim of identity theft and you provide the consumer reporting company with an “identity theft report” (see page 9). When you place an extended alert on your credit report, you’re entitled to two free credit reports within 12 months from each of the three nationwide consumer reporting companies. In addition, the consumer reporting companies will remove your name from marketing lists for pre-screened credit offers for five years – unless you ask them to put your name back on the list before then.

 

To place either of these alerts on your credit report, you will be required to provide appropriate proof of your identity, which may include your SSN, name, address and other personal information requested by the consumer reporting company. To remove the fraud alert, you will need a copy of an identity theft report and proof of your identity.

 

When a business sees the alert on your credit report, they must verify your identity before issuing your credit. As part of this verification process, the business may try to contact you directly. This may cause some delays if you’re trying to obtain credit. To compensate for possible delays, you may wish to include a cell phone number where you can be reached easily, in your alert. Remember to keep all contact information in your alert current.

 

 

2.     Close the Accounts that You Know, or Believe, Have Been Tampered With or Opened Fraudulently.

 

Call and speak with someone in the security or fraud department of each company. Follow up in writing, and include copies (NOT originals) of supporting documents. It’s important to notify credit card companies and banks in writing. Send you letters by certified mail, return receipts requested, so you can document what the company received and when. Keep a file of your correspondence and enclosures.

 

When you open new accounts, use new Personal Identification Numbers (PINs) and passwords. Avoid using easily available information like your mother’s maiden name, your birth date, the last four digits of your SSN or your phone number, or a series of consecutive numbers.

 

If the identity thief has made charges or debits on your accounts, or on fraudulently opened accounts, ask the company for the forms to dispute those transaction:

 

·        For charges and debits on existing accounts, ask the representative to send you the company’s fraud dispute forms. If the company doesn’t have special forms, use the sample letter on page 20 to dispute the fraudulent charges or debits. In either case, write to the company at the address given for “billing inquiries,” NOT the address for sending your payments.

 

·        For new unauthorized accounts, ask if the company accepts the ID Theft Affidavit (see page 37). If not, ask the representative to send you the company’s fraud dispute forms.

 

If the company already has reported these accounts or debts on your credit report, dispute this fraudulent information. See Correcting Credit Reports, page 17 to learn how.

 

Once you have resolved your identity theft dispute with the company, ask for a letter stating that the company has closed the disputed accounts and has discharged the fraudulent debts. This letter is your best proof if errors relating to this account reappear on your credit report or your are contacted again about the fraudulent debt.

 

Proving You’re A Victim

 

Applications or other transactions records related to the theft of your identity may help you prove that you are a victim. For example, you may be able to show that the signature on an application is not yours. These documents also may contain information about the identity thief that is valuable to law enforcement. By law, companies must give you a copy of the application or other business transaction records relating to your identity theft if you submit your request in writing. Be sure to ask the company representative where you should mail your request. Companies must provide these records at no charge to you within 30 days of receipts of your request and your supporting documents. You also may give permission to any law enforcement agency to get these records, or ask in your written request that a copy of these records be sent to a particular law enforcement officer.

 

The company can ask you for:

·        Proof of your identity. This may be a photocopy of a government-issued ID card, the same type of information the identity thief used to open or access the account, or the type of information the company usually requests from applicants or customers, and

·        A police report and a completed affidavit, which may be the identity Theft Affidavit (see page 37) or the company’s own affidavit.

 

 

3. File a Report With Your Local Police or The Police in the Community Where the Identity Theft Took Place.

 

Then, get a copy of the police report at very least, the number of the report. It can help you deal with creditors who need proof of the crime. If the police are reluctant to take your report, ask to file a “Miscellaneous Incidents” report, or try another jurisdiction, like your state police. You also can check with your state Attorney General’s Office to find out if state law requires the police to take reports for identity theft. Check the Blue Pages of your telephone directory for the phone number or check www.naag.org for a list of state Attorneys General.

Before you head to the bank, learn your credit score. Looking forward to tackling a to-do list filled with do-it-yourself projects once you own a home? You don’t need to wait to move in to get started. The financial DIY projects you need to tackle to prepare for the mortgage process will lay an important foundation for home ownership.

The current credit crunch means credit worthiness is more important than ever in qualifying for a mortgage. Before you head to the bank, learn your credit score. This number, ranging from 350 to 800, tallies your borrowing history and grades your likelihood of paying back money you borrow. Consumers with credit scores at the higher end of that scale will qualify for lower interest rates. Experts say that a credit score of 740 is required to qualify for the most favorable interest rates and smooth the borrowing process. That score has risen by more than 60 points during the last six months due to the current tightening in lending practices.

Credit scores are based on credit reports assembled by three major credit-reporting agencies: Experian, Equifax, and TransUnion. According to the Federal Trade Commission, consumers can obtain a free credit report once each year by contacting the credit report clearinghouse at www.annualcreditreport.com, or at 1-877-322-8228.

Check each entry on your credit report for accuracy, and work directly with creditors to clear up any discrepancies.

Important as your credit report may be, it’s not the only barometer a lender will look at in determining a borrower’s credit worthiness.

“A lot has changed in the amount of documentation required” for buying a home, says Brandon Cornett of www.homebuyinginstitute.com. “Today, home ownership is something you have to work toward.”

Part of that work includes assembling documentation a lender will require, including six months’ worth of bank statements and recent tax returns, and determining your debt-to-income (DTI) ratio. This ratio expresses the amount of money you owe to creditors compared to the amount of money you make.

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DALLASNEWS
June 12, 2009

Dallas-Fort Worth area home foreclosure postings are hitting new highs, with more than 6,000 properties set for sale next month.

That’s a 62 percent jump from a year ago, according to Addison-based Foreclosure Listing Service.
The latest tally of foreclosure postings easily topped the last record of just over 5,500 filings for May’s auctions.

Many of the current filings are homes that have been previously scheduled for foreclosure but were not sold at auction by the lenders, Foreclosure Listing Service reports.

So far this year, more than 35,000 D-FW home foreclosure filings have been recorded – a 20 percent rise from the first seven months of 2008, Foreclosure Listing Service said Thursday.

In Dallas County, currently 2,579 homes are threatened with foreclosure – 56 percent more than a year ago.

Tarrant County foreclosure postings have shot up even higher, surging 66 percent from a year ago with 2,015 filings for next month’s sale.

And postings are up 67 percent in Collin County and 68 percent in Denton County, according to the latest records.

Mortgage company and government programs designed to help homeowners with loan problems may be adding to the surge in foreclosure filings. While lenders are negotiating with borrowers, they often repost the home each month for pending foreclosure.

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THE DALLAS MORNING NEWS
June 19, 2009

A shopping cart filled with gels, nail polish and travel-size shampoo waits near the front door. A multicolored, hand-lettered sign tells you to SAVE BIG! ALL ITEMS 5 for $1.00!

“What is this? Five for a buck,” says store owner Gary Gluckman, picking up a tube, examining a bottle. “Come on. What a deal.”

Beyond the cart, the deals keep on coming at the Grocery Clearance Center in Oak Cliff. So do the surprises – shelved, stacked and stuffed inside the store.

“It’s like exploring. You never know what you’re going to find,” says Katie Anderson, who has stopped in for bread (”It’s a dollar cheaper”) and whatever else might catch her eye. “Here, it’s not the regular things all the time,” she says. “And you better grab it when you see it because it may be gone.”

But more always follows.

“The wheels stop turning if new stuff isn’t coming in,” Gluckman says. For 16 years, the Plano resident has been a state-licensed retailer of salvaged and surplus food and drugs, one of 14 in Dallas County and 158 statewide.
His inventory is the stuff that the top-tier stores don’t want. Stuff that may be past its prime, some months out of date or may have been overstocked, discontinued, mislabeled, misshipped or damaged. Stuff the salvage outlets buy from retailers, distributors and liquidators and return to the food chain.

“We guarantee everything we sell,” says Gluckman, pulling an 11-pound hunk of Hormel turkey breast from a freezer. Price: $27.50 ($2.50 a pound). At the Grocery Clearance Center, he says, all meat is sold or frozen before its “sell by” date. “One of the reasons I’ve been able to stay in business so long is people trust me,” he says.

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THE DALLAS MORNING NEWS
Wednesday, June 17, 2009