Credit Bureaus Selling Your Info: How to Opt Out

Written in our customer agreements with borrowers is a promise that our company would never release personal or financial information. Unfortunately, credit bureaus do not abide by these same rules.

The credit bureaus are the culprits on trigger leads which can cause solicitation for anyone borrowing for a home loan because they sell the leads to companies.  It’s not the vendors (LandSafe, IR, etc).

Unfortunately, we are at the mercy of the bureaus on this deal. However, there are simple steps you can take to opt out of your information being sold by credit bureaus.

How to opt out of trigger leads
There are two ways to opt-out of trigger lead programs and ensure your information is not sold.

1. Complete and submit an online form at www.optoutprescreen.com. This method stops trigger leads for five years.

2. Complete a separate form at the same Web site (www.optoutprescreen.com) and then print, sign and mail a letter generated by that form to confirm your opt-out request. This method stops trigger leads permanently.

Both of the opt-out methods take five days to become effective, so if you don’t want your information to be sold, you need to opt-out at least five days before you make a specific inquiry.

If your information is already in the trigger lead pool, you may continue to receive telephone calls and mailings for some time after you elect to opt out.

Opting out via one of these methods is highly recommended for your privacy.

{ 0 comments }

Is San Francisco Becoming a Seller's Market?

Since the summer season wound down in September, the number of homes on the market in San Francisco has declined to the point that sellers face far less competition.

According to an article in the San Francisco Chronicle, the amount of homes for sale has hit a 12 month low.
Redfin’s analytical data has “found that given the relatively sparse number of homes on the market, it’s becoming more of a – surprise! – seller’s market out there,” reported the Chronicle.

In a balanced housing market, there is typically 5-6 months “supply,” or homes for sale. In December San Francisco hit a low of a 1.6 month supply.

Are you surprised by this change in the housing market in the city by the bay?

{ 0 comments }

Homebuilders Confident, Stocks Rise

A show of confidence from homebuilders has been a catalyst for major upticks in the stocks of homebuilding companies. This CNBC video goes into detail about the positive change:

TeenForce Workers at Princeton Capital Named Top Two in Program

At our company headquarters we employ several teenagers through TeenForce, a non-profit organization that helps teenagers gain work experience. Two of our teens have just been named the #1 and #2 workers in TeenForce!

Alyssa Schweickert, the #1 TeenForce worker in 2011, logged 670 hours. Melissa Dalla, the #2 TeenForce worker, logged 652 hours.

We are extremely proud of them and all of the hard work they have done, as well as all of our TeenForce employees. Congratulations, Alyssa and Melissa!

Three Must-Read Personal Finance Books

There are many informative and interesting books about managing your personal finances out there. These three are some of the best stand-outs to make a change in the way you view and handle your money.

1. The Intelligent Investor by Benjamin Graham

The author of this book is considered one of the best financial investors of the century, and his advice is still extremely relevant since its original publishing in 1949. His stock market strategies are highly well-respected, and this book will give you a deeper understanding of how to invest your money.

2. The Total Money Makeover by Dave Ramsey

This bestseller is a great overview to managing your finances. It covers getting out of debt, investing, saving for emergencies, college, paying off your mortgage, and much more.

3. The Millionaire Next Door by Thomas Stanley and William Danko 

This book explains what people not just in Beverly Hills or the Upper East Side are doing to make themselves financially successful. It goes over the seven common key traits that the authors have found that wealthier people possess, maybe even your next door neighbor, and shows you how to cultivate them for yourself.

Do you have any favorite personal finance books that belong on this list? Add them to the comments!

{ 0 comments }

Financial Fitness

This article about being financially fit has great advice for small, inexpensive ways to save more money over time with your home.

Several tips that stand out are:

1. Be fire ready – Check that your fire extinguishers are functioning and easily available, and check your smoke detectors as well.

2. Prevent shocks – Outlets near water, such as in the bathroom or kitchen, should have a ground fault circuit to prevent shocks and electrocution. An inexpensive tool can alleviate this worry.

The major takeaway from this is that by making small investments in your home, you save yourself more in the long-run and protect the value of your property.

Full article here.

The Fed Aims for Transparency

At the most recent FOMC meeting, the committee discussed ways to increase the transparency of their actions and meetings to the public. Beginning this month, they will provide their fed funds target rate to the public, along with other information.

The new communications strategy of the Fed is discussed by CNBC in the video below:

7 Financial New Year's Resolutions to Keep

Small changes in your financial behavior can add up to big savings over the long term, and New Year’s is a perfect time to make some financial resolutions.

DailyFinance.com has listed seven great resolutions that are simple and will fatten up your wallet in 2012. Click here to see the full list; a shortened version is below:

1. Get healthy by losing weight and quitting smoking, which can lower your insurance premiums.

2. Be a smart shopper by using sales, coupons, and programs and apps like LivingSocial and Groupon to find good deals.

3. Simplify your day to day finances with things such as online automatic bill pay.

4. Increase your financial literacy and educate yourself about things you don’t understand.

5. Be prepared and start an emergency savings fund in case something unexpected happens.

6. Pay down debt and try to pay more than the minimum each month.

7. Create a basic household budget that makes sense and is easy to follow.