Census Cautions - Identity Theft

2010 Census to Begin

WARNING: 2010 Census Cautions from the Better Business Bureau


Be Cautious About Giving Info to Census Workers
by Susan Johnson


With the U.S. Census process beginning, the Better Business Bureau
(BBB) advises people to be cooperative, but cautious, so as not to
become a victim of fraud or identity theft. The first phase of the
2010 U.S. Census is under way as workers have begun verifying the
addresses of households across the country. Eventually, more than
140,000 U.S. Census workers will count every person in the United
States and will gather information about every person living at each
address including name, age, gender, race, and other relevant data.


The big question is - how do you tell the difference between a U.S. Census
worker and a con artist? BBB offers the following advice:


** If a U.S. Census worker knocks on your door, they will have a
badge, a handheld device, a Census Bureau canvas bag, and a
confidentiality notice. Ask to see their identification and their
badge before answering their questions. However, you should never
invite anyone you don't know into your home.

** Census workers are currently only knocking on doors to verify
address information. Do not give your Social Security number, credit
card or banking information to anyone, even if they claim they need it
for the U.S. Census.
REMEMBER, NO MATTER WHAT THEY ASK, YOU REALLY ONLY NEED TO TELL THEM HOW MANY PEOPLE LIVE AT YOUR ADDRESS.

While the Census Bureau might ask for basic financial information, such as a salary range, YOU DON'T HAVE TO ANSWER ANYTHING AT ALL ABOUT YOUR FINANCIAL SITUATION. The Census Bureau will not ask for Social Security, bank account, or credit card numbers, nor will employees solicit donations. Any one asking for that information is NOT with the Census Bureau.
AND REMEMBER, THE CENSUS BUREAU HAS DECIDED NOT TO WORK WITH ACORN ON GATHERING THIS INFORMATION..

No Acorn worker should approach you saying he/she is with the Census Bureau.

Eventually, Census workers may contact you by telephone, mail, or in person at home. However, the Census Bureau will not (never) contact you by Email, so be on the lookout for Email scams impersonating the Census.


Never click on a link or open any attachments in an Email that are
supposedly from the U.S. Census Bureau.


For more advice on avoiding identity theft and fraud, visit
www.bbb.org


PLEASE SHARE THIS INFO WITH FAMILY AND FRIENDS

Mortgage Anti-Deficiency Law Change - Update 8-15-09

Dear Friends,

Here is my second mortgage anti-deficiency statute update (and my third BLOG post on this subject). Again, if you are an Arizona real estate investor or know one, or a seasonal owner, there has been a very important development in the Anti-Deficiency Statute in Arizona.

Anti-Deficiency is where banks are prohibited from coming after a homeowner for the difference between the property's sale price and what is owed on the mortgage when the property is foreclosed (short sales do not qualify for this protection). With so many homes upside down these days (worth less than the mortgage balance owed), this is an important safeguard.

That safeguard was taken away unless the owner has spent 6 consective months "utliizing" the house. This was in a Bill passed this year and signed by the Governor which goes into effect on Sept 30th.

This means that investors or seasonal owners, if they were foreclosed on, could have banks coming after them for the difference in the mortgage balance and what the house sold for. These days that can easily be many tens of thousands of dollars.

The problem is that regular legislative session has adjourned for the year. The legislators are in special session now but are restricted to working on the state budget exclusively.

The good news is that language repealing the Anti-Deficiency law change (correcting the problem) has been added to two of the budget Bills currently in the legislature. So far, the legisiature has been unable to agree on a budget that won't be vetoed by the Governor. They are still working on getting that done and have a legislative vote scheduled for this coming week to get these bills through and to the Governor.

So we are still in a waiting game. It's not that the legislature is particularly opposed to repealing the changes, it's that the only vehicle to do that now is one or more of the budget Bills still being considered.

I'll update you when the Budget Bills are reported out of the legislature and the Governor has taken action on them. That will tell the tale on where we stand.

Please pass this on to any Arizona real estate investors and winter visitor owners that you know.

Thanks.

Richard

Arizona Anti-Deficiency Statute Update

Here is a link to an update from the President of the Arizona Association of Realtors on developments concerning the Arizona Anti-Deficiency Law as of August 5, 2009

Anti-deficiency prohibits a lender from pursuing a former owner for the difference between the mortgage and what the house sold for at foreclosure. These days many homes are "upside down" in value so this is an important protection (see earlier posts for details).

Foreclosure notification for tenants of foreclosed properties is also discussed.

Here is a link to the update.

Richard

Arizona Anti-Deficiency Statute Update

Dear Friends,

Here is a mortgage anti-deficiency statute update I promised.

If you are an Arizona real estate investor or know one, or a seasonal visitor who owns a home here, there has been a very important development in the Anti-Deficiency Statute in Arizona you should be aware of.

To reiterate, anti-Deficiency is where banks are prohibited from coming after a homeowner for the difference between the property's sale price and what is owed on the mortgage when the property is foreclosed (short sales do not qualify for this protection). With so many homes upside down these days (worth less than the mortgage balance owed), this is an important safeguard.

The new law, effective September 30th, will take away the anti-deficiency protection unless the owner has “utilized” (lived in) the property for 6 consecutive months and has a Certificate of Occupancy. Many winter visitors or small investors can’t meet these conditions. If they get into mortgage trouble and are foreclosed on, they could find themselves with the bank coming after them for any deficiency (usually tens of thousands of dollars) that might have dire consequences financially.

I attended a meeting on Tuesday at the State Legislature chaired by the State Senator who sponsored the legislation changing the anti-deficiency law. It lasted for 1 1/2 hours with Realtors, attorneys and the bankers represented.

At the end of the meeting, it was evident that this new law had so many unintended consequences for our seasonal visitors and mom and pop investors that the Bill's sponsor announced that it should be repealed and revisited next legislative session.

The problem is that regular legislative session has adjourned for the year. The legislators are in special session now but are restricted to working on the state budget exclusively. The Governor has been approached to include this Bill in what she has authorized for the special session but so far she has not agreed to do so.

With all the interest generated this past Tuesday, this is most likely not over. But for now, we have this new law on the books scheduled to go into effect on September 30th.
I will send you any new developments as they occur.

Please pass this on to any Arizona real estate investors and winter visitors that you know.

Be sure to contact your state legislators immediately and tell them you want this law changed or at least held in abeyance until it can be revisited during next year’s legislative session. The names, phone numbers and email addresses for State Senators and Representatives can be found at www.azleg.gov.

Richard

Winter Visitor and Investor Mortgage Protections Changing

Dear Friends,

We have had a change to borrowers mortgage protections in Arizona. This is still a fluid situation but unless the Legislature can effect a change, the new law will go into effect on September 30, 2009.

Arizona's mortgage anti-deficiency statute protects homeowners if their home is forclosed on by a bank and the foreclosure sale price is less than what is owed on the mortgage. The bank or lending institution is prohibited from coming after the homeowner for the difference between what was owed on the mortgage and the foreclosed sale price.

As of September 30th, this will change. On that date a change in the law will require that the owner have lived in the house for at least 6 continuous months and have a Certificate of Occupancy in order to receive anti-deficiency protection. While this change (sponsored by banks and other lenders) was aimed primarily at investors, it will affect seasonal and second home owners who are here for less than 6 consecutive months.

The Arizona Association of Realtors is working to get this law changed while the Leglislative Special Session is still ongoing.

I am going to a legislative meeting tomorrow at the Capitol to see if something can be worked out. I'll report the results of that meeting in this blog later in the week.

Meanwhile if you know any investors or seasonal visitors who are in mortgage trouble, let them know about this change or have them call me at 602-370-1450 for additional details.

Thank you.

Richard