Article: Home Loans ? Identity Theft Protection Could Hurt Home Sales
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Home Loans ? Identity Theft Protection Could Hurt Home Sales
Identity theft has been a hot topic in the news during the last few years. Just a month or so ago, forty million credit card numbers were compromised due to a computer attack on a credit card processor. Consumers are rightly concerned, as it can take years to unravel the problems created when someone?s identity is stolen. New legislation in Texas and California, also proposed elsewhere, is designed to protect consumers by letting them put a ?freeze? on their credit reports. Those in the real estate industry are worried, however, that doing so may make it difficult for some people to buy homes.
The concept of freezing credit reports is a simple one. Every time someone applies for credit, the lender contacts on of the three main credit bureaus and requests a copy of his or her...
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