February 17th, 2023 - Michael Dendy, a mortgage expert with The Dendy Team, says to his clients, “One of the biggest dangers today with the credit bureaus happens when someone applies for a mortgage. It is important to know the risks involved and how people can reduce the chances of fraud and identity theft.” The credit bureaus can sell the private credit information they gather to anyone that wants to purchase the information. This means that people could be the target of scammers, fraud and people trying to sell everything from credit cards, insurance, and car warranties. Consumers could get bombarded with phone calls and texts from people they have never heard of.
The Dendy Team provides their clients with the good news that there is hope. Their clients that are applying for credit, receive notification that they have the power to stop the credit bureaus from selling this information to anyone who wants to buy it. The way clients can do this is by going to the Prescreen Offers of Credit and Insurance program and opt out. https://www.optoutprescreen.com/ This will prevent the credit bureaus from selling the private credit information.
Even after applying for a mortgage with The Dendy Team, Michael, recommends that their clients still need to be careful about anyone who may try and contact them through phone calls, texts, and emails. There are known instances of people buying this information from different sources and trying to use this information to create scams.
For example, a scammer may call or text and claim they need a consumer to provide some sensitive private information to prevent their mortgage from going into default or foreclosure. They even claim to be from the consumer’s mortgage company.
Dendy states, “After working with clients that have spent years getting their credit ready to purchase a home, it is extremely important to inform and help protect the client’s private information.”
Whether The Dendy Team is working with people buying million-dollar properties or first-time homebuyers taking the first step toward homeownership, their team takes the extra effort to protect clients from these scams. “It’s important to always be cautious when someone calls or texts with a claim to have private credit information. If consumers are not sure who the caller is, they should not provide the callers with any sensitive or private information, and instead hang up. Clients can call The Dendy Team office to verify the call and find out if it was legitimate.” Says Dendy.
In conclusion, when a consumer applies for a mortgage, they need to be aware of the risks involved and take steps to protect their private credit information. Opting out of the Prescreened Offers of Credit and Insurance program is a good start. By taking these steps, consumers can protect their private information as safe and secure as possible.
ABOUT MICHAEL DENDY
Michael Dendy is a mortgage expert with The Dendy Team powered by Edge Home Finance, a national mortgage broker. NMLS #1632279
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Company Name: The Dendy Team Powered By Edge Home Finance
Contact Person: Michael Dendy
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Phone: 615-499-6335
Country: United States
Website: http://www.michaeldendy.com/
