New Law Will Let Consumers ‘Freeze’ Credit Files Without Charge

Posted by wadmin on Wednesday, June 13, 2018

Stone Bridge Mortgage_New Law Will Let Consumers ‘Freeze’ Credit Files Without Charge

As a mortgage broker, I pull countless credit reports daily — I know how important a credit freeze is to protect you from fraud. The Economic Growth, Regulatory Relief and Consumer Protection Act may have loosened restrictions placed on banks but it also featured this helpful change, which allows consumers to “freeze” their credit files at the three major credit reporting bureaus — Experian, TransUnion, and Equifax — without charge.

An advisable way to protect personal information from credit fraud and identity theft, a freeze protects your credit files from predators aiming to fraudulently open accounts in your name — but it also means that unless you lift the freeze, you won’t be able to apply for new credit.

While Equifax has offered credit freezes without charges, TransUnion and Experian have yet to update their policies to reflect these revised restrictions. Contact us at Stonebridge to learn more about how new credit freeze regulations can affect your finances.

Stonebridge Mortgage Group can help you with your real estate loans and other mortgage solutions, both residential and commercial. We serve the greater Portland area and are located in Gresham, Oregon. Visit us in historic Downtown Gresham today to learn more about our mortgage services.

Call us today at 503.661.5580

 

Categories: General

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