North County Real Estate News February 2014 Issue Vol.1 | Page 5

buyer’s corner

Credit Check Turns up

theft
identity

of
Homebuyer’s

by Ilyce Glink and
Samuel J. Tamkin

Q: I love your show. My
25-year old daughter thinks
she is ready to jump into
the housing market. When
checking her credit, she found
out that she may have already
bought a house and a car.
(And, of course, she did not,
but someone may have used
her identity to buy it.)
Can you please give us
some advice as to
the best way to
proceed?
She

is getting the documentation
from one of the credit
reporting bureaus, but is
afraid she will miss out on
the condo she was looking
to purchase. I know she
shouldn’t worry about losing
the condo. If it is meant to
be, then it is meant to be.
But I hate that she has had
this bad experience the first
time out.
A: Thanks for your email.
How awful for your daughter
to find out her credit has been
stolen.
Your daughter should
immediately put a fraud alert
on her credit report. She
can do this through
any of the other
major
credit
reporting agencies,
including Equifax,
Experian,
and
Transunion. Once
she puts a fraud
alert on her credit
report with one
credit agency,
t h e

others will automatically
pick that up. That won’t stop
whatever fraud has taken
place, but will help limit the
damage going forward.
Next, she needs to work
with the credit reporting
agencies to understand
exactly what is on her credit
history and how she has
been affected. Then, she will
have to file a police report
so that she has the proper
documentation to present to
the credit reporting agencies
(CRAs).
From here on out, it’s a
long, slow slog as she tries to
unwind everything that has
happened. She should work
with a CPA or enrolled agent
(see 4GAEA.org in Georgia)
to figure out if someone else
has been filing taxes under
her Social Security number.
She should then do a search
with her Social Security
number to see what else
pops up against it. There are
investigators and attorneys
she can hire who will dig in
and try to unravel what real
estate has been purchased
that has been tied to
her Social Security
number, if she
can’t. The
house
and

car loans should turn up on
her credit history.
She should gather her
proof together because she’ll
need to file affidavits with
each of the credit reporting
bureaus as part of the
unwinding. Just be aware,
unwinding this can take up to
a year, though hopefully less.
Your daughter should
read as much as she can
about identity theft. There
are a number of websites
with good information,
including TrustedID.com,
IdentityProtection.com,
LifeLock, and the Equifax
Finance Blog (www.blog.
equifax.com). (Full disclosure,
Ilyce is the managing editor
for the Equifax Finance Blog,
and her company has provided
content to IdentityProtection.
com).
As far as missing out on
the condo, she (and you)
shouldn’t be worried. Once
she has the police report and
has filed the affidavits with
the credit reporting bureaus,
she’ll have a folder to share
with the loan officer. She may
need to work with someone
in person, at a local bank
or mortgage brokerage, but
identity theft shouldn’t stop
her from buying her first
home, but it could slow the
process down. n
© 2013 Distributed by
Tribune Media Services

10 Questions
to Ask Before
You Hire a Real
Estate Agent
Carlsbad - Not all real estate agents are the same. If you
decide to seek the help of an agent when selling or buying
your home, you need some good information before you
make any moves. Choosing a real estate agent is one of
those critical issues that can cost or save you thousands
of dollars. In this FREE special report, we give you the
specific questions you should be asking to ensure that you
get the best representation for your needs.
Before you hire any real estate agent, call and get
a copy of a FREE Report entitled “10 questions to
Ask Before You Hire an Agent”. To order a FREE
Special Report, visit www.HowToFindaGoodAgent.
com or to hear a brief recorded message about how
to order your FREE copy of this report call toll-free
1-800-647-0525 Ext. 1006. You can call any time, 24
hours a day, 7 days a week.
Get your free special report NOW to find out the
questions the others would prefer you never ask! n

Find out what
your north
county home
is worth
online
Get information on what comparable homes to yours have sold
for and what homes are currently
listed for right now, along with all
property details, interior photos
and prices.
FOR A FREE, QUICK
ONLINE HOME
EVALUATION VISIT:

QuickOnlineHomeValues.com

5