Jim’s Mortgage Corner | Real estate

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FREEZE OR DO NOT FREEZE

Don’t worry, there are still many months before winter. However, if you have been a victim of identity theft, it is highly recommended to use this service. If a security freeze is added to your credit report, all third parties will not be able to access your credit report without your consent.

Federal law now allows people to freeze and unfreeze their loans at credit bureaus.

Once you have ordered a security freeze, some agencies may have access to your credit file, including:

 Companies with which you have a current financial relationship

 State, local law enforcement agencies, child support agencies

• Use of those covered by the FCRA – FBI information disclosure for counterintelligence.

 Credit monitoring services that the consumer is subscribed to

Each bureau has different criteria for requesting a security freeze, which are listed below.

You can freeze your loan with TransUnion at the link above. You will create an account that will allow you to request a freeze and they only need your last four digits of your social security number. You can also call TransUnion at (888) -909-8872 to block your credit report if you prefer not to create an account, or you can mail your TransUnion request using the address above.

You can freeze your file with Experian by mail or online using the link above. You can also temporarily or permanently remove the security lock from your online credit report by choosing the appropriate option from the link above or by calling 888-397-3742. You can also mail your request to them at the address above. After you place a freeze, Experian will provide your PIN and send you a confirmation email explaining the process for removing the freeze.

Equifax Information Services LLC

You can freeze the security of your Equifax credit report online by creating a myEquifax account from the link above. After you freeze the security of your Equifax credit report, you can check its status through your myEquifax account. To block the service over the phone, you can also call their automatic line at 800-349-9960. Alternatively, you can post your freeze by mail by uploading a form containing instructions and a mailing address. When you post a freeze, you will receive a 10-digit Personal Identification Number (PIN). You will need this PIN to temporarily or permanently cancel the security lock by phone or mail. A PIN is no longer required for online security lock transactions.

It is important to know that freezing your loan file can delay the processing / acceptance of loan applications for a mortgage, car, credit card, etc., since the freeze must be lifted for your loan to be revoked. Please plan accordingly if you plan to apply for a loan so that your loan file can be evaluated.



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