Free Credit Monitoring Is your real estate search leading you towards a new construction home in Virginia Beach, VA? | Virginia Beach Real Estate News For Buyers And Sellers

Free Credit Monitoring and your real estate search leading you towards a new construction home in Virginia Beach, VA?

filed under: Main category posted on September 7th, 2008

We all know the three big credit bureaus have a big impact on our daily consumer credit and when preparing for a mortgage to purchase Virginia Beach, Chesapeake, Norfolk, Suffolk, or Hampton Roads real estate.

A recent class action settlement may make you eligible to receive free credit monitoring for six or nine months. Use this to your advantage especially when preparing months in advance to get a real estate mortgage.

The real estate mortgage simulator may help you with sorting out monthly payments, etc.

Remember the key word here “Free”. If you go to any other site and there is a charge you are in the wrong place. The one’s that charge do the commercials with the person fast talking at the end requiring sign up for fee based monitoring.

The Virginia Pilot (Michelle Singletary of the Washington Post) reported that in a class action settlement, TransUnion has agreed to provide free credit monitoring services to millions of consumers to settle claims it illegally passed along private information for marketing purposes – bet you didn’t know that!!

The settlement requires that TransUnion sign up consumers for either six or nine months of monitoring.

You have up until September 24 to register for benefits under the settlement.

Any consumer who had an open credit account, applied for a real estate mortgage, or an open line of credit from a credit grantor is eligible. The eligible period is Jan 1, 1987 to May 28, 2008. A special benefit you should consider is the ability to lock your credit report so third party lenders or companies may not access your report without your approval. The “lock” is also available with the other credit reporting bureaus, Equifax and Experian.
It is a great way to protect yourself from identity theft. Clark Howard, the consumer guru mentioned
that the “lock” provision is going be simplified so it may be easily taken on and off depending on your needs. Many States are mandating this simplification as the credit bureaus have not been
overly accommodating in helping you accomplish this important tool.

The Federal Fair Credit Reporting Act is what governs this lawsuit. The total cost to TransUnion will be about $75 million dollars.

You can sign up for this FREE credit monitoring or call (866) 416-3470 for more information. It makes sense to see if anyone is looking at your credit without your permission whether for normal day to day monitoring or preparing for a Virginia Beach real estate purchase.

Also of interest:

Get Your Free Annual Credit Report before Buying Real Estate in Virginia Beach or Hampton Roads

Do you have an Ugly Credit Score? Tips on How to Improve Your Score before Buying Your Virginia Beach Home

Why The Virginia Beach Military Movers Plus Real Estate Program Is Better Than Navy Federal or USAA

What You Need to Know About VA Loans for Virginia Beach, VA Real Estate

posted by Dennis Blackmore

This entry was posted on Sunday, September 7th, 2008 at 9:19 pm and is filed under Main category. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.