On Sale: Your Personal Information!

Your name is actually worth quite a bit. The only problem is that you aren’t the one benefiting from it. Read on to learn how to protect your personal information from unwanted solicitors.

Very 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.

The credit bureaus have found a way to increase their revenues at your expense...and without your permission. These "trigger 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 your personal, confidential information to competing creditors and making millions. Your privacy is being sold, not just once, but over and over again. The lenders that have purchased these leads at a premium will then do everything they can to recoup their investment and turn a hefty profit. Often, bait and switch tactics are being used to lure clients away from their reputable lender.

From one such website that offers these names: Mortgage Trigger Leads are hard inquiries into a person's credit report generated daily. These consumers have just had their credit checked within the past 24 hours, specifically for a mortgage loan approval. Simply give them a better offer and watch your closing ratios go through the roof.

The good news is that you can make it stop! The consumer credit reporting industry has provided a way for you to 'opt out' or remove your name from these lists. You can contact them by phone at 1-888-567-8688 or online at www.optoutprescreen.com. 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.

At this time the practice of generating and selling these lists is allowed by the law. If you would like complain about this or have been targeted after opting out, you can contact the Federal Trade Commission (www.ftc.gov) or your state Attorney General's Office. These agencies will investigate reported violations. In most cases, an agency's primary source of information is complaints from the public.

As a consumer, it is your right to shop for the best service and price for a product, but this should be when and how you want to shop. These unsolicited marketing tactics are a nuisance and intrusive. Take your privacy back and refuse to be a part of this system.

**Service First Mortgage will never buy or sell your personal information. If any representative claims, or appears, to have acquired your information through such a manner please contact us immediately! Thank you.**


Warning: Unknown: open(/home/davidss3/public_html/files/tmp/sess_3o9871i23g2pijbveumu7fsp82, O_RDWR) failed: No space left on device (28) in Unknown on line 0

Warning: Unknown: Failed to write session data (files). Please verify that the current setting of session.save_path is correct (/home/davidss3/public_html/files/tmp) in Unknown on line 0