It's spooky out there. Keep yourself and your information safe and secure – don't be spoofed! With the wrap up of National Cyber Security Awareness month, it's a good time to reflect and take some steps to become more cyber savvy. Today's topic? Identify theft.
Your mortgage application is a gold mine for identity thieves. It contains sensitive information about your bank accounts, employer, income, credit card accounts and your social security number. Here's how to keep your mortgage application information safe from prying eyes.
Never fill out a mortgage application in a coffee shop, diner, restaurant, mall food court or even a work cubicle. (We've seen brokers and clients meet in such places to prepare sensitive paperwork.) Identity thieves armed only with smartphone cameras can quietly capture data from such documents without your knowledge. The best way to keep this information out of the wrong hands is to fill out the application in your own home or a secure office.
Bonus tip: thoroughly shred any "practice" applications where sensitive information was penciled in.