Minimizing ID Theft
September 24, 2008
How do you minimize your risk?
Nothing you do can guarantee that you won’t become a identity theft victim, but you can minimize your risk with a few simple steps
- Protect your social security number. Don’t carry it in your wallet; give it out only when absolutely necessary; and, verify in advance the source before sharing.
- Be careful where and with whom you share your social security number and private, identifying financial information, such as mother’s maiden name.
- Treat your trash with care. Thieves pick through trash and recycling bins to capture personal information. Shred credit card bills and receipts, credit card offers, credit applications, insurance forms, hospital and physician statements and expired credit cards.
- Consider freezing your credit.
Consumers in many states can “freeze” or restrict access to their credit reports. Once the freeze is in place, no one - potential creditors or other third parties - will be able to get access to your credit report until the you lift the freeze.
What credit information can be frozen varies by state. So does the cost. The Consumers Union offers a guide spelling out the ins and outs of state security freeze laws by state that includes information from the three credit bureaus, Equifax, Experian and TransUnion.
Victory for the Little Guy!
September 16, 2008
Jury gives woman $1.25M in lawsuit over mortgage
Baltimore Business Journal - by Eli Segall
A Baltimore native who defaulted on a subprime loan has been awarded $1.25 million in damages from her lender, Wells Fargo Bank N.A. The case may lead to similar lawsuits nationwide, and also may help Baltimore City’s suit against the bank, claiming it targeted minority neighborhoods with subprime loans, legal and banking experts say.
Countrywide Cashing in on Surprising Group of Homeowners
August 15, 2008
As the foreclosure crisis tightens its grip on most of the country, a surprising part of the United States is experiencing the opposite of declining property values. Louisiana and Texas, still recovering from the ravages of Hurricanes Katrina and Rita, are displaying a remarkable rebound in the housing market.
The West South Central region is the only part of the country that reported an increase in housing prices for the first quarter of 2008, according to the latest report by the Office of Federal Housing Enterprise Oversight. Texas showed a 4.7% increase in housing values and Louisiana a 3.3% increase.
Hurricane Victims Targets for Foreclosure
While that sounds like good news, it’s actually making hurricane victims targets for foreclosure. “They’re trying to steal my home,” said Hurricane Rita victim and Countrywide borrower Derrick Haley. Haley’s Lake Charles home was severely damaged by Hurricane Rita in September of 2005. Shortly after the storm, Countrywide Home Loans enacted what they called a “Hurricane Relief Program.”
Short Sale - Not As Easy As It Sounds
August 8, 2008
“Short sales” of homes are great deals, right? Well, not always.
A “short sale” is a desperate act by a seller that also requires a bank to accept some misery. The seller paid more for the home and the bank lent more than what the property is now worth. The seller is desperately trying to avoid foreclosure and hopes the bank will agree to cut its losses and accept less than what is owed on its mortgage. The buyer hopes to grab the property at a bargain. That might be wishful thinking. It sometimes happens, but not without patience and not at the bargain basement price the buyer typically expects.
Skyrocketing Price of Platinum Causing Skyrocketing Theft of Catalytic Converters
August 5, 2008
In 2008 the theft of catalytic converters has been increasing at an alarming rate. Catalytic converters have been standard equipment on cars since the 70’s. Today some vehicles have as many as four converters. So why the sudden increase in theft? The answer is the price of platinum.
Five years ago platinum was going for about $600 per ounce. In 2008 the price of platinum soared to $2,200 per ounce and now stands around $1,700 per ounce - and there is platinum in that converter. In fact there is enough platinum to make each stolen converter worth as much as $200 on the black market.
An experienced thief can remove a converter in less than 2 minutes. Unfortunately, the repair cost to the owner can run as high as $1,000 depending on how much damage was caused during the theft. The converters are usually sawed off with a battery powered saw. Bold thieves do not even bother to steal the car, but actually crawl under vehicles that are parked in remote lots and begin sawing.
The AAA reports that sport-utility vehicles and pickup trucks are the prime targets. SUVs and pickups are higher off the ground, so it is easier to crawl under them to cut off the converters. Criminals tend to be lazy types. 
Toyota 4Runners are particular targets because a thief can remove the converter with just a socket wrench, and their converters contain plenty of platinum.
There are products on the market that make it more difficult to steal a converter, such as the CatClamp. However, the price of the protective cage goes for around $225. The best protection is to avoid remote parking lots. However, the permanent solution will come from the automobile industry. Collectively automakers spent about $2 billion dollars a year on platinum and in an effort to cut costs are searching for ways to reduce the need for platinum. Mazda has created a catalytic converter that uses 70 to 90 percent less platinum making the converter worthless on the black market.
San Diego sues Bank of America to halt foreclosures
July 24, 2008
SAN DIEGO (Reuters) - San Diego’s city attorney said on Wednesday he filed a lawsuit against Bank of America Corp and its Countrywide unit to prevent the mortgage lenders from foreclosing on homes in the city, which he aims to make a “foreclosure sanctuary.”
Motorcycle Fatalities At 9-Year High, And The Cause Might Surprise You
July 23, 2008
Higher gas prices are leading to higher motorcycle sales. In 1997 there were 356,000 motorcycles sold. In 2006 there were 1.1 million motorcycles sold. In the same time frame motorcycle fatalities rose nationally from 2,110 to 4,810.
Nationally passenger car fatalities are at a 15-year low, but motorcycle fatalities are at a 9-year high. The Governors Highway Safety Association (GHSA) recently released a comprehensive report on motorcycle safety, and while wearing a helmet is always important, the main cause for the sudden increase in motorcycle fatalities appears to be a lack of proper training for new riders.
AAA found that improper driving skills were a factor in 51% of the crash fatalities involving motorcycles and that one in four motorcyclist involved in a fatal crash nationally did NOT have a valid license. Only 16 states mandate motorcycle training. If you are interested in your state GHSA has published a survey of State Safety Programs.
Bruce Gullifer of Hendersonville, North Carolina, has been riding motorcycles for more than 35 years. He just returned from a 40 day round trip from North Carolina to Alaska, and he says you can always spot the novice riders. They buy bikes that are too large, don’t pay attention to what they are doing, and are not dressed properly. Bruce has attended six advanced motorcycle training classes.
AAA Carolina recommends that motorcyclists:
1) Take a state approved education course for training on how to ride a motorcycle safely BEFORE getting on the highway.
2) Wear a helmet at all times, and be sure to replace broken down and worn helmets (14% of motorcycle riders use helmets that do not comply with Federal Motor Vehicle Safety Standards). State laws vary on wearing a helmet. If you are driving across the nation be sure you are legal.
Cell Phone Scams Target Unsuspecting Teenagers
July 18, 2008
Better check your cell phone bill. Especially if you have teenagers.
Cell phone companies are billing customers for ringtones, wallpaper, horoscopes and a variety of other services advertised as “free.”
The target? Unsuspecting teenagers.
Here’s how the scam works:
Glitzy web ads offer cash prizes or free ringtones to customers who provide their cell phone telephone number. There is absolutely no charge and a chance to win even more cash. At least that’s what it says in the regular size type that’s easy to read.
The tiny print outlining the “terms of service” tells a different story. The prize “service” is charged to your cellular phone and billed monthly with the cell phone carrier collecting a cut.
Not surprisingly, it’s tough to figure out what you’ve been charged for by looking at the bill. The charges often appear under headlines such as Direct Bill Charges, 3rd Party Downloadable Content, Premium SMS Messages, Premium Text Messages, M-Qube and M-blox.
AT&T – formerly Cingular – already has agreed to pay back consumers under a settlement with Florida Attorney General Bill McCollum. Check here to find out if you’re entitled to a refund.
The practice isn’t limited to AT&T. Verizon, Sprint, Alltel, Nextel and T-Mobile all are under investigation by McCollum’s CyberFraud Task Force, a special team the Attorney General put together to investigate internet scams. The investigation isn’t limited to cell phone carriers. His office already has busted two online marketing companies.
Want to protect yourself?
Call customer service and tell them to block all third party charges. The block keeps any company from billing your cell phone without your specific approval in advance.
10 Most Stolen Vehicles For 2007
July 17, 2008
You might be surprised which cars were the most stolen by thieves last year. The National Insurance Crime Bureau just came out with its list for 2007 and only 2 vehicles on the list were late models. The reason older models are targeted is simple. The value in stolen vehicles is replacement parts.
The list of most stolen vehicles for 2007:
1. 1995 Honda Civic
2. 1991 Honda Accord
3. 1989 Toyota Camry
4. 1997 Ford F-150 pickup
5. 1994 Chevrolet C/K 1500 pickup
6. 1994 Acura Integra
7. 2004 Dodge Ram pickup
8. 1994 Nissian Sentra
9. 1988 Toyota pickup
10. 2007 Toyota Corolla
Consumer Reports has some helpful tips on how to avoid a theft, but I suspect that if you are reading this post you probably already incorporate these tips into your everyday life.
John Newcomer
Some Spam Can Be Hazardous To Your Health
July 14, 2008
Lately the spam for online prescriptions has been on the rise. Spam is always irritating, but this spam can actually be deadly. With the economy in a tailspin consumers may be tempted to use online pharmacies to save a few dollars. But beware — not all online pharmacies are legit.
Take for example the death of Marcia Bergeron of British Columbia. An autopsy revealed that at the time of her death she had in her body a sedative, an antidepressant, a muscle relaxant, high levels of aluminum, phosphorous, titanium, tin, arsenic and other heavy metals. An investigation of her computer revealed that she had been shopping online for medication and ended up with counterfeit drugs.
In some cases the pills ordered online contain sugar, cement or other placebos. On occasion the correct drug is used but not the correct dosage. Some online medicines have been found to actually contain dangerous chemicals such as the ones that Marcia Bergeron ingested.
The problem has become so prevalent that last year the FDA issued a warning about purchasing medicine online.
To be sure there are many safe, reputable, and cost saving online pharmacies. The challenge is separating safe Web sites from unsafe Web sites. To protect yourself follow these 4 Don’ts:
- Don’t buy from sites that sell prescription drugs without a prescription.
- Don’t buy from sites that offer to prescribe a medication for the first time without an exam by your doctor.
- Don’t buy from a site that does not have a licensed pharmacist to answer your questions.
- Don’t give any personal information, unless you are sure the Web site will keep your information private.
Luckily there is a very quick and easy way to insure the website is safe. You can be confident that an online pharmacy is safe if it is VIPPS® approved by the National Association of Boards of Pharmacy. Legitimate pharmacies that carry the VIPPS® seal are listed at www.vipps.info .
Finally, if in doubt, always ask your doctor or local pharmacist.
John Newcomer
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