Five Tips To Prevent Identity Theft

Moving is stressful, and that’s the way identity thieves like it. It’s confusing with people coming in and out of your house to pack and move your belongings. Keep your guard up and follow these tips to keep your identity yours.

1. Change It

The people who move into your old place might not be as diligent as you about shredding credit card offers. You could have pre-approved offers ending up unopened in the garbage and this is easy pickings for an identity thief. Change your address through the U.S. Postal Service online or fill out the form at your nearest post office.

2. Shred It

While you pack, go through your old financial documents, including bank and credit card statements. Fire up the shredder and give yourself peace of mind by taking care of the shredding and disposal yourself.

3. Watch It

Your personal identity and financial documents should be kept in a folder that you keep with you during your move. Don’t let this folder get packed away into a file cabinet and put on a moving van.

4. Protect It

Each of your mobile devices should be password protected. Don’t print out a list of your passwords. Use an online or mobile source to securely keep all of your passwords. Keep your phone with you at all times during your move. And don’t pack your computer, tablet or other device in a box labeled electronics. Write fragile on the box and mark it with a star so only you know what’s really inside. The star will help you identify this box more quickly when you unpack.

5. Shut It

Don’t count down the days until your move on social media. Chances are, criminals are counting down the days with you! Wait until the movers are gone and you’re settled into your new home before telling the world about your move.

Say what?

Feel like everybody’s speaking a different language when it comes to real estate? Get into the conversation and get comfortable understanding what’s being said. This short glossary helps buyers and sellers navigate industry terms.

Appraisal – the determination of the worth of something by a professional, in this case the market value of a property. An appraiser uses an analysis of local market data along with the characteristics of the property. Your bank or other lender may refuse to loan you money if the appraisal price is lower than the loan request.

Closing costs – the entire package of miscellaneous expenses paid by the buyer and the seller when the real estate deal closes. These costs include the brokerage commission, mortgage-related fees, escrow or attorney’s settlement charges, transfer taxes, recording fees, title insurance and so on. Closing costs are generally paid through escrow. Jump ahead if you’re lost after “escrow.”

Contingency – conditions that have been built in to a real estate purchase or sale agreement must be met before the sale can be completed and legally binding. For example, a buyer’s contractual right to obtain a professional home inspection before purchasing the home.

Disclosures – The seller is required to provide the buyer with certain information (disclosures). The number and types of disclosures vary by region, but they may include information about conditions affecting the value or enjoyment of the property. The seller may know of an earth-shaking construction project that is about the start around the corner, which would impact the enjoyment of the property.

Escrow – Funds, securities or other assets held by a neutral third party (an escrow company or agent) on behalf of the other two parties (in this case the buyer and the seller). The buyer will deposit the payment in an escrow account, proving to the seller that he or she will be able to uphold the other end of the deal. The escrow service will pay the funds to the seller once certain conditions pertaining to the sale have been met.

MLS – Multiple Listing Service. An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers. All properties for sale are assigned an MLS number.

Mortgage – A loan that helps you purchase your house. You sign a contract promising to pay back the loan with interest over a certain number of years. The components of your monthly mortgage payments may be referred to as PITI:  principal (the money that goes into paying down the loan), interest (which is paid to the lender for letting you borrow the money), (property) taxes and (homeowner’s) insurance.


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