Credit Report – How To Occupy http://howtooccupy.org/ Thu, 02 Dec 2021 15:32:16 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://howtooccupy.org/wp-content/uploads/2021/07/icon.png Credit Report – How To Occupy http://howtooccupy.org/ 32 32 First-time homebuyers see prices slowing and inventory rising in Q3 https://howtooccupy.org/first-time-homebuyers-see-prices-slowing-and-inventory-rising-in-q3/ Thu, 02 Dec 2021 14:00:02 +0000 https://howtooccupy.org/first-time-homebuyers-see-prices-slowing-and-inventory-rising-in-q3/ Price growth slowed and stocks increased slightly in the country’s largest metropolises in the third quarter. And while many would-be first-time buyers have seen their economies boosted during the pandemic, those who haven’t racked up a surplus will find these modest improvements disappointing. National averages give a good overview of what’s going on in the […]]]>

Price growth slowed and stocks increased slightly in the country’s largest metropolises in the third quarter. And while many would-be first-time buyers have seen their economies boosted during the pandemic, those who haven’t racked up a surplus will find these modest improvements disappointing.

National averages give a good overview of what’s going on in the housing market, and in the third quarter this story is a slight improvement over the last one: prices have gone down a bit (1%) and stocks are down. grew 22% nationally, quarter over quarter. But homes were listed at 5.3 times the median income of first-time homebuyers, while three times your income is a long-held rule of thumb when it comes to affordability.

Certainly, some first-time buyers are doing well, despite the strong seller market in which we have been operating for over a year. These inaugural buyers represented 34% of all buyers from July 2020 to June 2021, up from 31% the year before, according to the 40th Annual National Association of Realtors Buyer Survey.

Some buyers have likely found higher personal savings rates, increased workplace flexibility, and very low interest rates on pandemic fodder for claiming this seller’s market. But for would-be newbies who haven’t reaped similar profits, the third quarter was another quarter of prices too high and affordable housing scarce.

Affordability on the country’s largest metros

In the country’s largest metropolitan areas, affordability remained stable in the third quarter; homes were listed at 5.5 median first-time buyer income for the second consecutive quarter. This figure is significantly higher than a year ago when homes were listed at 4.8 times the income of first-time buyers. Over the past year, prices have increased significantly, although this rate of growth has started to stabilize.

The most affordable metropolitan areas in Q3, as usual, are in the Midwest and Rust Belt areas. They include Pittsburgh, where homes are listed at 3.1 times the income of first-time buyers, Cleveland (3.3), St. Louis (3.4), Buffalo (3.6), and Baltimore and Minneapolis (3.9 ).

The least affordable metropolitan areas for first-time buyers are, again, all in California. They include Los Angeles (12.1), San Diego (9.2), San Jose (8.3), Sacramento (7.6) and Riverside (7.4).

First-time buyer support: Some mortgages can make homeownership dreams more attainable for first-time home buyers who may have less room for down payments and more fragile credit histories. But they are not a sure thing. A recent analysis shows that refusals among FHA applicants – of federally guaranteed loans popular among first-time buyers – were on the rise in 2020, as lenders tighten standards to control the flow of funds amid high demand. FHA applicants can lower their debt-to-income ratio and improve their credit with on-time payments to improve their chances of approval. In addition, they can explore other programs for first-time homebuyers – FHA loans are not the only option.

Prices drop very slightly

In the largest metropolitan areas, prices fell by a hair (1%) from the second to third quarters on average. This slight drop is a sign that skyrocketing price growth is slowing, although many potential buyers haven’t felt the change. Some subways, however, experienced price drops that were probably noticeable.

Prices fell double-digit from last quarter in three subways analyzed: Pittsburgh (down 12%), Cincinnati (down 10%) and Milwaukee (down 10%), and relative to the last year the declines were even greater. Prices fell double-digit, year-over-year, on 10 subways, including a 21% drop in Milwaukee.

It’s important to note that prices have been insanely high for over a year now, so even these double-digit declines only offset a small portion of the extreme increases.

Not all regions have experienced the same relief. Markets with warmer climates, such as Las Vegas; Tampa, Florida; and Austin, Texas; all experienced price increases from last quarter and around the same time last year. In fact, home prices were up another 29% year-over-year in Austin, one of the fastest growing markets in the country.

First-time buyer support: Knowing what’s going on in your local market – not the national headlines – is key to setting your expectations when you start shopping for a home. As prices have risen and supply has fallen across the country, on average, your city or neighborhood can be one of many exceptions. Or, at least, a place where these binding extremes aren’t so severe. Talk to local real estate agents about what they see in the areas you are considering. Find out specifically about homes for sale in your price range – how long they stay on the market and how many offers they receive, on average.

Inventory on the rise, in many markets

High list prices are definitely drawing home sellers into the market, and we’ve seen active listings jump 31% from the previous quarter. This is especially noticeable as we typically see home listings starting to decline in the third quarter, as the home buying season eases and the weather is cooler. However, for the second year in a row, the home buying season was anything but typical.

Some subways have seen quarterly increases large enough that hopeful buyers are noticing their options are expanding. Thirteen subways saw their stocks increase by 40% or more. Available Homes In Austin Known To Top The Lists in this analysis, increased by 73%. Hartford, Connecticut, is the only metro that saw double-digit decline; the number of active registrations there fell by 25% over the quarter.

First-time buyer support: We are still in a sharply tilted seller’s market, so buyers shouldn’t be overly bullish if they see more active listings in their area. But when there are more homes on the market, the competition eases slightly. As a first-time buyer, you still can’t expect your first offer to go through – supplies are always in short supply. However, if you can bear to be neck and neck with other buyers – moving quickly and bidding competitively – you may get a contract a little sooner than you would have last year. , or even a few months ago.

Milwaukee: Climbing the Affordable Price Rankings

If you’re shopping for a house in Milwaukee, you’re better off than most townhouse hunters. This metropolitan area has steadily become more affordable in 2021, moving from the 16th most affordable metro in the first quarter to the ninth in the third. Homes were listed at four times the median first-time buyer income in the last quarter, a time when inventories rose significantly.

List prices are down 10% from the second quarter and 21% from the third quarter of 2020, more than any other metro analyzed. While the number of active listings is roughly on par with last year around the same time – only increasing by 3% – it is up 69% from last quarter. For home shoppers, this means a noticeable increase in ads returned when they search for their favorite app, compared to what they saw in early summer.

Analysis methodology available in the original article, published on NerdWallet.

More from NerdWallet

Elizabeth Renter writes for NerdWallet. Email: elizabeth@nerdwallet.com. Twitter: @elizabethrenter.

The article First-Time Home Buyers Find Slowing Prices and Third Quarter Inventory Increase originally appeared on NerdWallet.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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56% of Millennials had a secondary activity during the pandemic. Should you? https://howtooccupy.org/56-of-millennials-had-a-secondary-activity-during-the-pandemic-should-you/ Sun, 28 Nov 2021 15:00:21 +0000 https://howtooccupy.org/56-of-millennials-had-a-secondary-activity-during-the-pandemic-should-you/ If it seems like half of the people you know have some sideline activity in addition to their main job, you’re probably not alone. A good 56% of millennials have struggled during the pandemic, reports MassMutual in a recent poll. Of these, 63% were motivated by the desire for extra money, while 30% wanted the […]]]>

If it seems like half of the people you know have some sideline activity in addition to their main job, you’re probably not alone. A good 56% of millennials have struggled during the pandemic, reports MassMutual in a recent poll. Of these, 63% were motivated by the desire for extra money, while 30% wanted the opportunity to do a job they are passionate about.

At the same time, however, 80% of Millennials report experiencing some level of burnout. And a lot of it could come down to stretching too thin.

You may be thinking about getting financial help to increase your savings account balance, pay off debt, or work toward some other goal. Or, you might want a second gig to gain access to some extra pocket money that you can use on a day-to-day basis. There are many ways to improve your financial situation with extra work. But before pursuing one, ask yourself these important questions.

1. Am I good at time management?

To be successful at a side business, you need to be good at managing your time. You want to be honest with yourself before committing to any work you do in addition to your main job. If you generally have a hard time in this area, you may want to either refrain from having a side activity or limit yourself to an activity over which you have full control.

For example, if you sign up to drive with a carpooling service, you can choose when you want to work and you can work as few or as many hours as your schedule allows. But if time management isn’t your strong suit, be careful not to take on a side job that requires you to show up to a client’s house or a workplace, like a store or restaurant.

2. How demanding is my current job?

If your main job requires you to have a fairly consistent schedule that is not too demanding, then getting a sideline may be a reasonable thing to do. But if you frequently work long hours and log in on weekends, taking a second job might end up being too much for you to handle.

3. Do I really need the money?

There are benefits to getting a sideline beyond earning the extra money. Your side job could help you meet new people and potentially explore career opportunities that will put you on a better path.

But if you’re hesitant to find a second job because you’re already pressed for time and don’t really need the money, you might want to wait. There may be other ways to expand your social circle or learn work skills that don’t require you to spend as much free time at work.

What’s the right call?

If you’re about to have a sideline, a good bet is to start with a gig that doesn’t require a huge time commitment, or one with a very flexible schedule. This way, you can easily get started with this job and make sure it works for you.

Having the extra money is certainly nice. But you shouldn’t sacrifice your well-being to get it.


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What to Know About Credit Score Applications – NBC 5 Dallas-Fort Worth https://howtooccupy.org/what-to-know-about-credit-score-applications-nbc-5-dallas-fort-worth/ Thu, 25 Nov 2021 22:16:59 +0000 https://howtooccupy.org/what-to-know-about-credit-score-applications-nbc-5-dallas-fort-worth/ Credit scores are used for everything from getting a mortgage to getting a job. So it makes sense to know your credit score. But how do you get it? Apps that promise instant access to your score are popular, but do they work? A new Consumer Reports survey might make you think twice before you […]]]>

Credit scores are used for everything from getting a mortgage to getting a job. So it makes sense to know your credit score. But how do you get it?

Apps that promise instant access to your score are popular, but do they work? A new Consumer Reports survey might make you think twice before you click to get your score.

Credit score apps like Credit Karma, Experian Credit Report, and others promise instant access to credit scores, as well as other features like score monitoring. Sounds good until you dig a little deeper. Consumer Reports found that five of these apps have significant drawbacks and few benefits.

The survey showed that apps can pose serious privacy risks, and even worse, a survey of consumers who used them found that in some cases, apps didn’t even provide an accurate credit score.

Four of the five apps CR investigated often charged users for access to their credit reports, which consumers are legally entitled to free of charge, while not providing access to the type of credit scores most lenders use.

Several of the apps use VantageScore 3.0, which is of limited value as many lenders don’t.

A Consumer Reports political analyst said consumers should have the right to get a free and accurate credit score, and a bill in Congress would require it, but so far it has not. was scheduled to vote.

Consumer Reports has a petition to action.consumerreports.org seeking to collect 40,000 signatures to send to Congress asking it to work a little harder and a little faster on this issue.

Consumer Reports surveyed the five credit app companies about their privacy, data collection and data sharing practices. Each responded, saying they take consumer privacy very seriously and that consumer trust is paramount to their business.

Remember that there are ways to get your credit score without using a credit score app. Try to check if your bank or credit card offers you access. And you can also check your credit report weekly at no charge via annualcreditreport.com.

Since your credit report has an impact on your credit score, be sure to check it regularly and dispute any clerical errors immediately.


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10 signs you have a debt problem https://howtooccupy.org/10-signs-you-have-a-debt-problem/ Mon, 22 Nov 2021 15:00:33 +0000 https://howtooccupy.org/10-signs-you-have-a-debt-problem/ According to a CNBC report from 2021, the average American has $ 90,460 in debt. While that number represents everything – from housing to credit card debt to auto loans – it is still a burden to many. Research has shown that debt can trigger anxiety and depression, and can cause headaches, insomnia, or an […]]]>

According to a CNBC report from 2021, the average American has $ 90,460 in debt. While that number represents everything – from housing to credit card debt to auto loans – it is still a burden to many. Research has shown that debt can trigger anxiety and depression, and can cause headaches, insomnia, or an inability to concentrate. This is probably because most of us worry when we go in too deep, fearing that we don’t have an exit strategy.

Before we detail what to do in the event of over-indebtedness, let’s see how to know if you are overwhelmed. Here are 10 signs that debt may be a problem in your life.

1. Avoid mail

If you can barely bear to walk to the mailbox or open your email for fear that another bill is staring you in the face, debt might be to blame. If you let bills pile up on the kitchen counter because you know you’re going to have a hard time paying them, the problem could be excessive debt.

2. Receive collection calls

Once you start getting phone calls, letters, emails, or texts from creditors or debt collectors, you can be sure that you are too involved.

3. Being denied credit

If you are denied a loan and the creditor says it is due to “use of credit,” that means you have too much to do.

4. Lie about how you spend

When you find yourself lying to the people you care about, telling them that you used money for one purpose when it was spent another way, there is a debt problem.

5. Use of credit card advances

If the only way to find cash in an emergency is to take a cash advance on a credit card, debt has crept into your life.

6. Pay the minimum

If you’ve been racking your brains for a way to pay more than the minimum payment on your credit cards but can’t seem to find anything, it’s probably because debt has robbed you of enough. money to move forward.

7. Debt transfer from one card to another

Transferring high interest debt from one credit card to another with a promotional 0% APR can be a great strategy to pay off a credit card faster and save money on interest. However, if you’re doing this because a card is chock full of fees and you need to free up some credit, there’s a problem that needs to be addressed.

8. Spending impulsively

If you’re so stressed out about your finances that the only thing that makes you feel better (if only for a moment) is spending more money on something you can’t afford and don’t don’t need it, it could be due to overwhelming debt.

9. Lose sleep

Turning around and back at night, trying to find a viable solution to your money problems, is a sure sign that you have too much debt.

10. Feeling hopeless

If you’ve almost given up on taking control of your debt, you know you’ve got a problem. As discouraged as you may feel, there is hope. In fact, there are several avenues that can ease the financial burden. Read on to find out what you can do. And if one approach doesn’t work for you, try another method. No one else is going to fix it for you.

Find the right solution for you

The next time you step out of the house, take a look around. Every person you see, every person you meet, has their own unique issues. It is a condition of life. No matter how burdened you feel with your current financial situation, it won’t last forever. Take a look at these debt repayment plans and see if any of them are right for you.

DIY

If you’re the type of person who likes to do things on your own, that’s not a bad thing. If you are determined enough, these steps can help you reduce your debt to a more manageable level.

  • Pay more than the minimum. Go over your budget with a fine tooth comb, looking for all the expenses that can be cut. For example, can you do without one streaming service or two? How long has it been since you shopped for new owners or auto insurance? The change can save you money every month. The goal is to find as many small savings as possible and divert those payments to your debt.
  • Adopt a new debt strategy. Because you aren’t the first person to be in debt (and won’t be the last), there are several debt strategies designed to help you systematically reduce debt in your life. They are called things like “debt snowball” and “debt avalanche”, and they work.
  • Use “money found”. Make a commitment to use every tax refund, bonus, and birthday check for debt.
  • Sell ​​what you can. If you’re like most people, you probably have a lot of things lying around your house that you don’t use anymore. Sell ​​them to raise enough funds to pay off some of the debt.
  • Settle for less. There’s no rule that says you can’t call a creditor and negotiate to pay off debt that is less than you owe. Get it in writing first and know that a settlement for less than what is owed to you will hit your credit report hard. But if your credit score is already on, it’s worth considering.

Debt consolidation

If your credit score is still relatively strong, you may be able to take out a debt consolidation loan that is large enough to pay off all of your debt at once. If you are a member of a credit union, this would be a great place to start. Otherwise, there are many online lenders who deal with debt consolidation. Ideally, you’ll get an interest rate that is lower than the average rate you pay on your current debt and save money in interest. The issue after you take out a consolidation loan is to avoid taking on new credit.

Non-profit credit counseling

There is no reason to go it alone. A nonprofit credit counseling agency can help you do everything from creating a realistic budget to eliminating late fees, stopping collection calls and lowering loan rates. interest. The National Foundation for Credit Counseling (NFCC) has been around since 1951 and can help you find a nonprofit organization that will work on your behalf. If you go this route, be sure to ask questions, including the impact of participating on your credit score, for better or for worse.

As serious as it may sound, debt overload does not have to be a permanent condition. Find a plan that works for you, believe in yourself, and as you reduce your debt, start planning for a better financial future.


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What is the Credit Decision API? https://howtooccupy.org/what-is-the-credit-decision-api/ Sat, 20 Nov 2021 20:44:39 +0000 https://howtooccupy.org/what-is-the-credit-decision-api/ Posted on Saturday, November 20, 2021 at 3:43 p.m. Join AFP’s 100,000+ followers on Facebook Buy an AFP subscription Subscribe to AFP podcasts on itunes and Spotify News, press releases, letters to the editor: augustafreepress2@gmail.com Advertising requests: freepress@ntelos.net (© Mymemo – stock.adobe.com) VSedit decision API allows you to improve your current process using AI technology. […]]]>
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(© Mymemo – stock.adobe.com)

VSedit decision API allows you to improve your current process using AI technology. With this system, you keep full control of your credit by setting your existing credit on 15 criteria. These criteria include minimum credit score, maximum DTI, maximum interest rate, loan amount, etc.

Once an applicant qualifies for your credit policy, AI is activated. The AI ​​model will help predict the risk of default for each individual applicant. This value is calculated as a percentage and is updated for each month of the loan.

With this data behind you, you can better assess which loans are worth it for you. Once you receive the probability of default, the Credit Score API will enter your target asset return for each level of risk in its system.

Your target return is used to determine the borrower’s APR. The higher your return target, the higher the borrower’s APR will be.

Before committing to a loan, it is essential to have this information in your back pocket. In addition, you should only accept loans that match your credit policy and risk capacity.

What is the API?

API is an acronym for “Application Programming Interface”, a software intermediary that allows two applications to communicate with each other. Every time you use a digital app, you are using an API. This includes actions like scrolling through social media, sending emails, and checking the weather.

Have you ever heard of a credit report API? In this case, the API is used to consolidate the data collected from different credit report repositories and produce an organized view of the consumer’s credit report file.

An API allows for bulk requests, which are processed via CSV files or other compatible spreadsheet formats. They are typically used in industries that rely on a high volume of fast communications.

APIs can also improve the security of a business. Consumer credit report data is sensitive. Therefore, it makes sense to use APIs to keep this data on secure servers. In addition, these servers usually have very high security restrictions, making them less vulnerable to attacks.

What is the credit decision?

Now you may be wondering what the credit decision is. For example, the term consumer refers to the internal process used by an institution to decide whether or not to accept particular credit risks. This procedure is also known as the credit approval or granting of credit process.

The credit decision is used by banks and similar businesses that engage in the granting of credit. These businesses typically provide loans to other businesses, as well as to individuals.

There is usually a hierarchical approval structure within the credit decision process. However, this structure depends on the size and business model of the organization.

However, you can usually expect the first line of defense to be individual officers. Then above them are the agency directors. Then there are the regional directors. Finally, senior managers will complete the final round of reviews.

Credit analysis process

So what happens in a borrower’s credit assessment process? There are many different techniques for judging an individual’s creditworthiness. These techniques include cash flow analysis, risk analysis, trend analysis, ratio analysis, and financial projections.

The credit analysis process can take several weeks or even months. It starts with the first step of collecting information. The next step is to decide on the loan. Finally, the creditor must decide on the amount of credit to extend to the borrower.

Information gathering step

In the first step of collecting information, the creditor will analyze the customer’s previous repayment record, the organization’s reputation, its financial skills, as well as any transactions with your bank or other financial institutions.

Borrowers should be prepared with all financial documents that are relevant to their equity. For example, if a creditor cannot confirm that a borrower can generate sufficient cash flow to repay the debt, their request will be denied. Likewise, if a borrower is at risk of defaulting on other obligations, it is likely that their application will be rejected.

Decision stage

Once a creditor has thoroughly analyzed a customer’s profile, they will either approve or reject the loan. For each borrower, a credit analyst is assigned to assess your request. They are the ones who are responsible for making the final decision.

Once they have made their decision, they will write a report to their superiors, who will make a decision based on the information provided. This process will continue until it reaches the final approval stage.


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Today’s mortgages, refinancing rate: November 19, 2021 https://howtooccupy.org/todays-mortgages-refinancing-rate-november-19-2021/ Fri, 19 Nov 2021 11:00:24 +0000 https://howtooccupy.org/todays-mortgages-refinancing-rate-november-19-2021/ Mortgage rates have risen slightly over the past two months, but are still at historically low levels overall. Fixed 30-year rates are less than 3%, and 15-year rates are well below 2.5%. Even though mortgage rates are skyrocketing, Mac Freddie Data shows that rates are still significantly lower than they have been over the past […]]]>

Mortgage rates have risen slightly over the past two months, but are still at historically low levels overall. Fixed 30-year rates are less than 3%, and 15-year rates are well below 2.5%.

Even though mortgage rates are skyrocketing, Mac Freddie Data shows that rates are still significantly lower than they have been over the past five years:

Mortgage rates will likely stay low for the remainder of 2021, but we could see them rise in 2022.

Mortgage rates today

Mortgage Refinance Rate Today

Mortgage calculator

You can use our free mortgage calculator to see how today’s rates would affect your monthly mortgage payments and your finances in general.

Mortgage calculator

$1,161
Your estimated monthly payment

  • Pay a 25% higher down payment would save you money $ 8,916.08 on interest charges
  • Lower the interest rate by 1% would save you $ 51,562.03
  • Pay an extra fee $ 500 each month would reduce the loan term by 146 month

What is a mortgage rate?

A mortgage rate is the interest you pay on the money you borrow from a lender to buy or refinance your home. These are basically the fees you pay to borrow, expressed as a percentage. For example, you can take out a mortgage for $ 200,000 plus an interest rate of 2.75%.

There are two types of mortgage rates: fixed rates and adjustable rates.

A fixed rate mortgage lock in your rate for the duration of your mortgage. Even if the rates in the US market go up or down, your rate will stay the same. This is a particularly attractive offer at the moment, as rates are at historically low levels overall.

a adjustable rate mortgage keeps your rate the same for a predetermined amount of time, then changes it periodically. An ARM 5/1 locks in your rate for the first five years, then the rate fluctuates once a year. This is a riskier approach these days because you risk your rate going up later because the rates are low right now.

How are mortgage rates determined?

Mortgage rates are determined by a combination of factors – some you can control and some you cannot.

The main external factor is economy. Interest rates tend to be higher when the US economy is booming and lower when it is struggling. The two main economic factors that affect mortgage rates are employment and inflation. When the number of jobs and inflation increase, mortgage rates tend to rise.

You can control your finances, although. The better your credit score, debt-to-income ratio, and down payment, the lower your rate should be.

Finally, your mortgage rate depends on what type of mortgage you obtain. Government guaranteed mortgages (like FHA, VA, and USDA loans) charge the lowest rates, while jumbo mortgages charge the highest rates. You will also benefit from a lower rate with a shorter mortgage term.

How to choose a mortgage lender?

First, think about what type of mortgage you want. The best mortgage lender will be different for an FHA mortgage than for a VA mortgage.

A lender should be relatively affordable. You shouldn’t need a very high credit score or down payment to get a loan. You also want it to offer good rates and charge reasonable fees.

Once you’re ready to start shopping for homes, apply for pre-approval with your top three or four choices. A pre-approval letter indicates that the lender wants to lend you up to a certain amount, at a specific interest rate. When you are pre-approved, your mortgage rate is locked in for 60 to 90 days. With a few pre-approval letters in hand, you can compare each lender’s offer.

When you apply for pre-approval, a lender does a serious credit investigation. A bunch of serious questions on your report can hurt your credit score, unless it’s for the purpose of finding the best rate.

If you limit your rate purchases to about a month, the credit bureaus will understand that you are looking for a home and should not hold back every individual investigation against you.


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Cyber ​​vigilance required to reduce the likelihood of being victimized https://howtooccupy.org/cyber-%e2%80%8b%e2%80%8bvigilance-required-to-reduce-the-likelihood-of-being-victimized/ Wed, 17 Nov 2021 19:13:36 +0000 https://howtooccupy.org/cyber-%e2%80%8b%e2%80%8bvigilance-required-to-reduce-the-likelihood-of-being-victimized/ With cyber hackers increasingly sophisticated in their methods of stealing people’s financial and personal information, vigilance and caution are crucial in avoiding being a victim. That was the message from San Diego Assistant District Attorney Brendan McHugh when he spoke for a continuing education center in the Rancho Bernardo virtual classroom on November 11. McHugh […]]]>

With cyber hackers increasingly sophisticated in their methods of stealing people’s financial and personal information, vigilance and caution are crucial in avoiding being a victim.

That was the message from San Diego Assistant District Attorney Brendan McHugh when he spoke for a continuing education center in the Rancho Bernardo virtual classroom on November 11.

McHugh told attendees – who were mostly older people from the area – that they needed to have situational awareness. Just as they wouldn’t have access to an ATM in a dark alley, they have to be extra careful when clicking on any links they come across on their computer or smartphone.

During his presentation, McHugh covered a wide range of ways criminals use technology to steal people’s money and information. This is done through ransomware, spyware, adware, worms, Trojans (malware sneaking into a computer) and botnets (computers turned into “zombies” where they can be accessed to commit crimes) .

While some of these methods are aimed at businesses, he said individuals can be targeted so that they – or their devices – become unwitting participants in crimes. With a growing number of homes equipped with ‘smart’ devices like refrigerators, toilets, toys, robotic vacuums, locks, light bulbs, coffeemakers, smartwatches and home automation devices, hackers have plenty of news. ways to access their devices and networks.

Additionally, McHugh said many of these IoT devices do not have the same system updates as computers, so the vulnerabilities are not patched. This makes them more vulnerable to hacking.

Ransomware is particularly popular when it engages fraud, he said. When they are launched on someone’s system, their files are encrypted and they lose access to their photos and documents.

“Usually this is an email with a code that encrypts all of the files on the hard drive,” McHugh said. “They ask for payment, often by cryptocurrency or gift cards. … This is fraud.

McHugh said the “first generation” of ransomware only encrypted a computer hard drive, but the “second generation” now not only demands payment for unlocking files, but threatens to release those files to the dark. web.

“They will post your data on the dark web,” McHugh said. “It’s extortion.”

He said the best way not to become a victim of ransomware is to not click on links that arrive in emails, whether the sender is known or not. Just because the name of the sender of the email is someone you know, their system may have already been hacked.

“Be very careful when clicking on links,” McHugh said, adding that it’s best to verify with the sender over the phone or some other way that the email is actually coming from them.

“It is essential to have a backup, either cloud-based or an external hard drive that is not connected to your system except when backing up,” he said. “If your backup is connected, it can also be encrypted… so keep it separate. “

McHugh said it is also a good practice to follow in case the computer is damaged by other means, such as water or fire. A separate, unconnected system can restore system files.

He said phishing is also a popular way to steal personal information and often comes in the form of messages that appear to be from a financial institution.

“If this is unsolicited text or email, don’t click on the link,” McHugh said, explaining that the hacker was trying to access the username and password. pass from the financial account.

According to McHugh, Trojans can give the hacker remote access to a device. For example, the hacker can turn on a computer’s video camera and see or hear everything that is happening within range of the computer. He said it’s better to shut down the computer, not just put it into sleep mode.

When it comes to other types of crime, McHugh said it’s important to stay on top of your credit reports in case a company you do business with has been hacked. “We have to make sure that our information is not used to victimize us,” he said.

He also said it was important to practice “cyber hygiene”. This includes using complex and unique passwords for each account and changing passwords frequently. Multi-factor authentication is also something he advises. When logging into an account, a code is sent to a mobile phone and this code must also be used to access the account. He said most banking and messaging sites offer multi-factor authentication. Update antivirus software and operating systems whenever an update is released, as it fixes the latest known system vulnerabilities.

If someone becomes a victim of hacking, McHugh said it was important not to give money to the criminal. The rise of cryptocurrency has made investigation and reimbursement “extremely difficult”. He also said it is important to file a police report.

“The only way to investigate is if we know about it,” he said.

He also said people should consider putting a fraud alert on their credit reports, especially if they won’t be applying for new lines of credit. If they need it, he said they can unfreeze their credit. Plus, they should get a free credit report every year from the three major credit reporting agencies – Equifax, Experian, and TransUnion.

Those who have been victimized can get help. One place to contact is the Identity Theft Resource Center at 888-400-5530 or idtheftcenter.org.


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Veterans are more likely to lose money from scams than civilians https://howtooccupy.org/veterans-are-more-likely-to-lose-money-from-scams-than-civilians/ Mon, 15 Nov 2021 23:12:00 +0000 https://howtooccupy.org/veterans-are-more-likely-to-lose-money-from-scams-than-civilians/ HARRISBURG, Pennsylvania., November 15, 2021 / PRNewswire / – Pennsylvania 943,417 military veterans and active service members are at risk of being the target of con artists. According to a new AARP report, veterans, military personnel and their families are almost 40% more likely to lose money to scams and fraud than the civilian population. […]]]>

HARRISBURG, Pennsylvania., November 15, 2021 / PRNewswire / – Pennsylvania 943,417 military veterans and active service members are at risk of being the target of con artists. According to a new AARP report, veterans, military personnel and their families are almost 40% more likely to lose money to scams and fraud than the civilian population. In addition, 4 in 5 adult military / veterans have been the target of scams directly related to their military service or the benefits they receive.

“Our research underscores the need to Pennsylvania veterans and their families to keep abreast of the latest scams and know how to avoid them, ”said Bill Johnston-Walsh, Pennsylvania State Director of AARP. “AARP Pennsylvania continues to fight for those who have proudly served our state by arming them with information and resources to avoid the financial and emotional impact of scams and fraud. ”

Scammers often use military jargon and specific government guidelines to craft an effective case for stealing money from the military and veterans. One in three adult military / veterans report losing money to these types of service scams. Among those who lost money, the top scams reported include:

  • Benefit Buybacks: Transfer of US Department of Veterans Affairs (VA) retirement and / or disability benefits for a supposed lump sum payment that never materializes (47%).
  • Fraudulent Records Scam: Paying for Updated Personal Military Records (32%).
  • The bogus charitable donation request: donating to bogus veterans charities (32%).

Other main findings include:

  • Adult military / veterans reported losing more money than civilians to the impostor grandparent scam (more than twice as often) and financial phishing schemes (almost twice as often).
  • Almost half of adult military / veterans said they do not use an automated call blocking service and more than one in four had not registered their phone number on the national do not call registry .
  • 81% of military / adult veterans did not place a security freeze on their credit report.

To make scams easier to spot, AARP Fraud Watch Network recommends registering with the National Do Not Call Register and using a call blocking service. Additional measures include: the use of strong and unique passwords for each online account; use two-factor authentication when available; and placing a free security freeze on credit reports at each of the three major credit bureaus. Plus, veterans never have to pay for their service or benefits – if they are told otherwise, it is a scam.

Operation Protect Veterans — a joint program of the AARP Fraud Watch Network and the US Postal Inspection Service — helps Pennsylvania veterans, military personnel and their families to protect against fraud. The Fraud Watch Network also offers bi-weekly fraud alerts and a toll-free helpline (877-908-3360) through which veterans, the military and the public can report suspected scams. The AARP Watchdog Alert Handbook: Veterans Edition explains 10 ways crooks target veterans. For more information and resources for veterans on the latest frauds and scams, visit www.aarp.org/veterans.

The survey was administered in August 2021 to a total of 1,660 people: 851 active or former US military respondents and 809 non-military adults (civilians) aged 18 and over using NORC’s AmeriSpeak Internet Panel. The margin of error is 4.40% at the 90% confidence level.

About AARP
AARP is the nation’s largest non-profit, non-partisan organization dedicated to empowering people 50 and over to choose their lifestyle as they age. With a national presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal development. The AARP also produces the nation’s largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org, www.aarp.org/espanol or follow @AARP, @AARPenEspanol and @AARPadvocates, @AliadosAdelante on social media.

MEDIA CONTACT:
Teresa osborne, [email protected], (717) 237-6482

SOURCE AARP Pennsylvania

Related links

http://www.aarp.org


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3-year fixed personal loan rates drop to their lowest since September https://howtooccupy.org/3-year-fixed-personal-loan-rates-drop-to-their-lowest-since-september/ Wed, 10 Nov 2021 20:40:51 +0000 https://howtooccupy.org/3-year-fixed-personal-loan-rates-drop-to-their-lowest-since-september/ Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. The latest interest rate trends for […]]]>

Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

The latest interest rate trends for personal loans from the Credible Marketplace, updated weekly. (iStock)

Borrowers with good credit looking for personal loans during the week of November 1, 2021, prequalified for rates that dropped for 3-year terms and increased for 5-year terms compared to loans at the fixed rate of the previous week.

For borrowers with a credit score of 720 or higher who used the Credible Marketplace to select a lender during the week of November 1:

  • 3-year fixed-rate loan rates averaged 10.88%, down from 11.20% the week before and 11.44% a year ago. Over the past 14 months, 3-year personal loan rates were lowest during the week of August 3, 2020, when they averaged 10.45%.
  • 5-year fixed-rate loan rates averaged 14.19%, down from 13.45% the week before and 14.18% a year ago. 5-year personal loan rates hit a 12.62% low in the past 12 months in the week of May 3, 2021.

Personal loans have become a popular way to consolidate and pay off credit card debt and other loans. They can also be used to cover unforeseen expenses like medical bills, deal with a major purchase, or finance home improvement projects.

Fixed 3-year personal loan rates plunged last week, falling back into the 10% range for the first time since September. Three-year rates have not declined since the week of September 20, 2021, when they averaged 10.70%. Meanwhile, 5-year fixed rates have risen significantly – the last time they rose was in the week of October 4, 2021, when they hit 14.23%. Borrowers may want to opt for a 3-year fixed rate personal loan now to take maximum advantage of interest savings.

Whether a personal loan is right for you often depends on several factors, including what rate you may qualify for. Comparing several lenders and their rates could help you get the best possible personal loan for your needs.

It’s always a good idea to shop around on sites like Credible to understand how much you qualify for and choose the best option for you.

Here are the latest trends in personal loan interest rates from the Credible Market.

Trends in weekly personal loan rates

The chart above shows the average prequalified rates for borrowers with a credit score of 720 or higher who have used the Credible Marketplace to select a lender.

For the month of October 2021:

  • 3-year personal loan rates average 11.33%, up from 11.27% in September.
  • 5-year personal loan rates average 13.85%, up from 14.84% in September.

Personal loan rates vary widely depending on the credit rating and the length of the loan. If you are curious about what type of personal loan rate you might qualify for, you can use an online tool like Credible to compare options from different private lenders. Checking your rates will not affect your credit score.

All the lenders in the Credible market offer fixed rate loans at competitive rates. Since lenders use different methods to assess borrowers, it is a good idea to apply for personal loan rates from multiple lenders so that you can compare your options.

Current rates for personal loans by credit score

Depending on factors such as your credit rating, the type of personal loan you are looking for, and the loan repayment term, the interest rate may differ.

As the table above shows, a good credit rating can mean a lower interest rate, and the rates tend to be higher on loans with fixed interest rates and longer repayment terms.

How to get a lower interest rate

There are many factors that influence the interest rate a lender might offer you on a personal loan. But there are steps you can take to increase your chances of getting a lower interest rate. Here are some tactics to try.

Increase credit score

Generally, people with a higher credit score are eligible for lower interest rates. Steps that can help you improve your credit score over time include:

  • Pay your bills on time. Payment history is the most important factor in your credit score. Pay all of your bills on time for the amount owed.
  • Check your credit report. Examine your credit report to make sure there are no errors. If you find any errors, dispute them with the credit bureau.
  • Reduce your credit utilization rate. Paying off credit card debt can improve this important credit scoring factor.
  • Avoid opening new credit accounts. Only ask for and open the credit accounts that you really need. Too many inquiries about your credit report in a short period of time could lower your credit score.

Choose a shorter loan term

The repayment terms for personal loans can vary from one to several years. In general, shorter terms come with lower interest rates because the lender’s money is at risk for a shorter period.

If your financial situation allows it, applying for a shorter term could help you get a lower interest rate. Keep in mind that the shorter term doesn’t just benefit the lender: choosing a shorter repayment term will pay less interest over the life of the loan.

Get a co-signer

You may be familiar with the concept of co-signer if you have student loans. If your credit isn’t good enough to qualify for the best interest rates on personal loans, finding a co-signer with good credit could help you get a lower interest rate.

Remember that if you do not repay the loan, your co-signer will be responsible for repaying it. And co-signing for a loan could also affect their credit score.

Compare rates from different lenders

Before applying for a personal loan, it’s a good idea to shop around and compare the offers of several different lenders to get the lowest rates. Online lenders generally offer the most competitive rates and can disburse your loan faster than a physical establishment.

But don’t worry, comparing rates and terms doesn’t have to be a tedious process.

Credible makes it easy. Just enter the amount you want to borrow and you can compare multiple lenders to choose the one that’s right for you.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their unique circumstances. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options – without putting their personal information at risk or affecting their credit score. The Credible Marketplace offers an unparalleled customer experience as evidenced by more than 4,500 positive reviews on Trustpilot and a 4.7 / 5 Octoberscore.


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Veterans fight surprise attacks against fraud and scams https://howtooccupy.org/veterans-fight-surprise-attacks-against-fraud-and-scams/ Tue, 09 Nov 2021 13:58:17 +0000 https://howtooccupy.org/veterans-fight-surprise-attacks-against-fraud-and-scams/ According to a 2017 AARP survey, this current research found that more active duty members and veterans than civilians continue to receive many fraudulent solicitations and are much more likely to lose money because of a scam that civilians. Service-related fraudulent offers also continue to plague military and active-duty veterans, causing a third of them […]]]>


According to a 2017 AARP survey, this current research found that more active duty members and veterans than civilians continue to receive many fraudulent solicitations and are much more likely to lose money because of a scam that civilians.

Service-related fraudulent offers also continue to plague military and active-duty veterans, causing a third of them to lose money for at least one of the offers listed in the inquiry question.

Automated calls, spam emails, suspicious text messages, or instant messages are common ways that scammers try to contact consumers, and military / veterans and civilians report receiving too many per week. Yet too many respondents in both samples do not use some useful preventive measures such as blocking services, the national do-not-call registry, freezing credit report security, or requesting information about the phone. attribution of a donation.

The AARP Fraud Watch Network worked with the United States Postal Inspection Service (USPIS) on Operation Protect Veterans – a public education initiative to help veterans and military families defend themselves and to protect themselves and their loved ones by increasing the visibility of the most recent. These results from the AARP 2021 survey indicate a strong need for increased media and public attention to keep veterans, military personnel and their families informed, so that they can more easily detect and repel a “scam” – surprise attacks of scams and fraud.

Methodology

NORC conducted the 2021 Veteran Scams investigation using NORC’s AmeriSpeak® panel for the sample source. This research was conducted to better understand how consumers are affected by fraudulent solicitations.

A general population sample of American adults aged 18 and older who were not active or former military personnel was selected from the NORC AmeriSpeak panel for this study. In addition, an oversample of serving and former members of the US military was also selected.

The sample for a specific study was selected from the AmeriSpeak panel using sampling strata based on age, Hispanic race / ethnicity, education, and gender (48 sampling strata across total). The size of the sample selected by sampling stratum was determined by the distribution of the population for each stratum. Additionally, sample selection takes into account expected differential survey completion rates by demographic groups so that all panel members with a completed interview for a study are a representative sample of the target population. . If the household of the panel has more than one active adult member of the panel, only one adult of the household is eligible for selection (random sampling within the household).

Suggested citation:

Sauer, Jennifer. Scambush: Military veterans fight surprise attacks against scams and fraud. Washington, DC: AARP Research, November 2021. https://doi.org/10.26419/res.00502.001


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