main-icon

Tell your credit agency to freeze your credit. And be safe. 

Tell your credit agency to freeze your credit. And be safe. 

With large-scale security breaches at retailers like Target and credit reporting agencies such as Equifax, having your identity stolen is a real possibility, allowing these thieves to open a new line of credit using your name.  That’s why many people have their credit frozen to safeguard themselves.  You can, too. 

Why it works 

When you freeze your credit it restricts access to your credit report, because a new line of credit cannot be opened without a credit check. This prevents criminals from getting a line of credit with your name. 

How it works 

Contact your credit agency and tell them to freeze your credit. While this used to cost around $10 per agency a new law states that credit agencies must freeze and unfreeze your credit free. 

A little problem  

A credit freeze is a good idea to prevent your identity from being stolen, or your finances breached, but it poses a problem if you want a mortgage.  Although you’re trying to prevent hackers from stealing your money, you’re also preventing reputable institutions like mortgage companies and lenders, from accessing your credit score.  

A big solution  

Fortunately, federal law makes it more convenient than ever to get a mortgage while you have a credit freeze. 

When you ask to unfreeze your credit the agency must get back to you within one hour of your request. To get a mortgage all you need do is let the mortgage issuer know that your credit is frozen, contact your credit agency, and unfreeze your credit once the agency has assured you that it’s safe.  And you are, too. 

 

see also

How to build a temporary wall in your apartment

How to build a temporary wall in your apartment

Administrator
A few of NYC’s biggest expenses to kick and to keep

A few of NYC’s biggest expenses to kick and to keep

Administrator
Six things you need to know before moving to New York City

Six things you need to know before moving to New York City

Administrator
Five neighborhoods to consider living in

Five neighborhoods to consider living in

Administrator
Seven packing tips for movers

Seven packing tips for movers

Administrator
What you should know about having a co-op apartment 

What you should know about having a co-op apartment 

Administrator
A real estate purchasing timeline guide

A real estate purchasing timeline guide

Administrator
Do you need an expeditor, or is it a needless expense? 

Do you need an expeditor, or is it a needless expense? 

Administrator
No-fee apartments simplified 

No-fee apartments simplified 

Administrator

Contact Us

By sending, you agree to Tri-State Area's Terms & Conditions

Sent!

Your message has been sent. We will review and respond to your message as soon as possible.
Thank you.