Child identity theft protection is a hot button issue as predators look to take advantage of your child’s clean history and credit score. Are you checking your kid’s credit report and taking the proper precautions? Also the $25 billion mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. settlement is finally approved. And as usual, providing personal finance advice, real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. advice and consumer advice on the Ilyce Glink Show April 15, 2012 on WSB Radio.
April is Identity Theft Month and this week, we’re talking about the biggest scourge in the history of this crime – child identity theft. This is the fastest growing piece of the puzzle and it can devastate families for years.
We’ve covered this story from the start, and in the past we have talked about child identity theft protection as pertains to parents, aunts, uncles and other relatives who take advantage of kids within their own circle. These relatives would secure loans, purchase cars and more. But now we have strangers reaching in and wreaking havoc.
What do you have to do to insulate yourself and your family? What measures can you take to create child identity theft protection? We have answers and the good news is that you can stay on top of your entire family’s credit reports in less than 10 minutes a month. But be warned: if you don’t check your kid’s credit score, no one welcome is going to do it for you. Don’t be remiss – the consequences are too dire.
This week we’re also talking about the approval of the $25 billion mortgage settlement, a watershed moment for the housing market in general, the foreclosureForeclosure is the legal action taken to extinguish a home owner's right and interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property, so that the property can be sold in a foreclosure sale to satisfy a debt. crisis and the Great Recession in particular. The Big 5 mortgage lenders have finally signed off on the plan.
This has been in the works for quite awhile but the watershed moment to which I referred revolves around stricter guidelines for foreclosure that are attached to the plan. These guidelines are expected to speed up the foreclosure process dramatically, as many pending foreclosures, frozen during the robo-signing scandal, suddenly make it out of limbo.
What’s next for beleaguered homeowners?
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